Weight loss drugs have driven global sugar prices to a five-year low

on Wednesday, the lowest since October 2020. Traders say this reflects a faster-than-expected slowdown in consumption in the United States and other developed economies, while demand in developing countries is growing more slowly than forecast. GLP-1 injections for weight loss, which activate the glucagon-like peptide 1 receptor, a hormone that causes a feeling of satiety, have become a key factor in reducing cravings for sweets. GLP-1 is the basis of Novo Nordisk’s Wegovy and Ozempic, as well as Eli Lilly’s Mounjaro and Zepbound. “The decline in consumption, or the speed of decline, has caught the sugar industry by surprise,” said Gurdev Gill of brokerage Marex. He added that supply will not be cut quickly by falling prices. Sugarcane requires significant upfront investment and long planting cycles, and many farmers receive government support. The first ...