Global sugar to get dearer 

Sugar prices are expected to rise over the next few months. This is due to scarcity of the commodity all over the world because of adverse weather conditions, according to the Japan-based Nikkei Asian Review. The website cited projections from The International Sugar Organisation and a British trading house, Czarnikow, which estimated that the global sugar shortage was likely to be between three and five million tons for the current crop marketing year, which began in October.

India, the world’s second-largest sugar producer, after Brazil, is expected to cut production, which has been hit by droughts linked to the El Nino weather phenomenon. Brazilian sugar output is expected to drop because the sugarcane crop there has been affected by above-average rainfall. Besides, the Brazilian real has fallen by more than 50 percent against the US dollar since the start of the year due to an economic slowdown and speculation that the US Federal Reserve will raise interest rates by the end of the year.   

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