Reported 18 days ago
Sugar prices have risen sharply due to fires and drought conditions in Brazil, which is the world's largest sugar producer. This surge, the largest since 2008, threatens to increase costs for a variety of food products, particularly sweets and desserts. The ongoing adverse weather has led to significant crop damage, prompting predictions of reduced sugar availability for export and contributing to higher prices for other commodities like coffee and cocoa.
Source: YAHOO