Sugar prices are surging due to bad weather affecting harvests in major producing countries like India, Thailand and Mexico. In addition, demand for sugar remains high for various products, leading to a decrease in surplus.
Factors such as droughts, fertilizer prices, and geopolitical events are contributing to the rise in sugar prices.
Our senior sugar analyst John Stansfield said” It’s a perfect storm of weather events all around the world and then you throw in potential yield reductions due to high fertilizer prices over the last couple of years, and that’s not helped the sugar market”
Source : www.barrons.com