Global white sugar 20 percent more expensive in 2021
Published Jan 7, 2022
Prices for white sugar on the international markets have risen by almost 20 percent in the past year. The sugar market worldwide is benefiting from high fuel prices and lower sugar stocks. Rabobank predicts in an analysis report that sugar prices will continue to rise in 2022.
At the beginning of 2021, the international commodities exchange in London was still trading around 370 euros for 1 tonne of white sugar. In the first week of 2022, this quotation will approach 445 euros per tonne. The sugar price is therefore comparable to the level of five years ago. Incidentally, the international sugar market already reached its highest quotation in 2021 around mid-November, with 466 euros per tonne. The fact that the current quotations are slightly lower is a result of concerns about economic developments due to the re-increasing corona infections in various parts of the world. Raw sugar prices in particular fell at the end of December when it was announced that the omikron variant had also reached Brazil. Analysts expect this to affect price developments in the sugar market in the coming months. The Netherlands Enterprise Agency (RVO.nl) recently wrote in the report of the Brussels sugar consultation that the European Commission assumes that more ethanol ...