The price of sugar, according to the FAO (Food and Agriculture Organization of the United Nations), stood worldwide last September at an average of 162.7 points (9.8% more than in August ), representing the second consecutive monthly increase and the highest level since November 2010. It is one of the foods that has become more expensive this year, while the opposite can be said about vegetable oils, dairy products, and meat.

This global price increase is mainly because of increased concerns about the global outlook for a more limited supply in the upcoming 2023/24 campaign. This is due to the decrease in production in the main sugar countries – Thailand and India – due to the dry climate related to the El Niño phenomenon. To this we must add the rise in international crude oil prices. Fortunately, the month-on-month rise in global sugar costs has been contained as Brazil is currently harvesting under favorable weather conditions and its currency, the real, has weakened against the US dollar.