Sugar prices have shot up after a cold snap in Brazil. Severe frost struck major sugar producing areas in the country in June and July. Sugar production in the Center-South region of Brazil is expected to decrease anywhere from five-to-nine million metric tons. Raw sugar futures have increased ten percent over the past month, trading about 20 cents per pound in New York. Prices haven’t been this high since early 2017.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.