World sugar prices fall for the third consecutive month
Sugar
Published Aug 11, 2022
Tridge summary
World sugar prices fell 3.8% in July from the previous month, marking the third consecutive monthly decline and the lowest level in five months. They stood at an average of 112.8 points, according to the food price index prepared by the Food and Agriculture Organization of the United Nations (FAO).
Original content
Concern about the outlook for demand as a result of expectations of a further slowdown in the world economy in 2022 depressed international sugar prices, according to the FAO. It also points out that the drop in prices was due to the weakening of the Brazilian real against the US dollar and the drop in ethanol prices, which has led to sugar production in Brazil being higher than forecast in the first fortnight of July. Also contributing to the decline in prices were signs of increased exports from India and favorable production prospects for the coming season. In contrast, concerns about the effects of prolonged hot and dry weather conditions on potential yields in the European Union prevented more substantial price declines. world food prices The food price index prepared by the FAO registered an average of 140.9 points in July, that is, 8.6% less than in June, which represents the fourth consecutive monthly ...
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