EU sugar prices rise sharply as energy costs rise and Ukraine crisis intensifies
Friday, February 25, 2022
The increasing costs of energy are likely to cost EU sugar producers - especially refiners - dearly. It may be estimated that the cost of refining imported bulk raw sugar could already have increased by 20% to 30%. Moreover, EU sugar beet farmers will suffer increasing costs of diesel and fertilizers. News today that Russia has invaded Ukraine, sending Brent Crude sharply up to $104 a barrel and stock markets plunging, seems likely to send EU sugar prices even higher.
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