World sugar prices rose almost 7% in February, according to the FAO index
Sugar
Published Mar 11, 2023
Original content
World sugar prices rose 6.9% in February compared to the previous month, reaching their highest level since February 2017. This is reflected in the food price index prepared by the Food and Agriculture Organization of the United Nations. Agriculture (FAO). The rebound was mainly due to the downward revision of the 2022-23 sugar production forecast in India, which moderated the export outlook for the current season, according to the FAO. "Concerns about the decrease in exportable availabilities from India in a context with a strong demand for imports worldwide additionally increased world sugar prices," says the Food and Agriculture Organization of the United Nations. However, the adequate progress of the harvest in Thailand and abundant rainfall in the main production areas of Brazil prevented a higher monthly increase in prices. In addition, the drop in international crude oil prices and ethanol prices in Brazil also contributed to limiting the upward pressure on world sugar ...
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