The world sugar price falls for three months: Will companies in South Korea lower their prices?

Published 2024년 6월 23일

Tridge summary

Global sugar prices have been decreasing for three months in a row since March, according to the Food and Agriculture Organization of the United Nations. The price index dropped by 28% from its peak in September due to decreased production caused by abnormal weather, but has since stabilized with sugar harvests in Brazil. Consumer groups are urging sugar companies to lower product prices, but the industry is hesitant due to high import costs caused by the high dollar exchange rate.

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Original content

World sugar price falls for three months... Will domestic companies lower their prices? Global sugar prices have fallen for three consecutive months since last March. According to the Food and Agriculture Organization of the United Nations, the global sugar price index last month was 117.1, down 28% from its peak in September last year. As sugar production decreased due to abnormal weather, the world sugar price index rose to 162.7 in September last year, but is showing a downward trend as sugar is harvested stably in Brazil. Consumer groups argue that sugar companies should lower product prices, but the sugar industry remains cautious, saying that import ...

Source: Yonhapnewstv