Sugar CEO Says Wild Weather Will Extend Sweetener’s Price Boom
- World’s second-largest producer sees supplies at risk in 2022
- Cane supply at company’s mills may fall to lowest in 11 years
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The worst weather in decades in top sugar exporter Brazil will have a lasting impact on global sweetener prices that are already near four-year highs, according to the world’s second-largest producer.
Sugar has been rising on concern that severe frosts and the worst drought in nearly a century in the South American nation will lead to significant losses in sugar production, exacerbating an already tight global supply outlook. The extreme weather has also boosted coffee prices and is fueling global food-inflation worries.