Sugar prices continue to plungePosted: March 11, 2010
At the end of 2009, we noted that sugar prices were soaring to multi-decade highs. Sugar prices proceeded to peak at the end of January and have plunged 33% from there.
Sugar prices are riding a rollercoaster of scarcity and abundance. Monsoons in India forced the world’s largest consumer of sugar to import it. This year, sugar crops are expected to produce a large bounty from India and Brazil. See “Indian sugar stocks turn bitter as output seen rising” for more details.