Record EU sugar prices leave sweet-makers with bitter taste

Reuters

Thursday, October 13, 2022

Record-high sugar prices in the European Union, nearly three times levels seen a year ago following extreme weather and a surge in energy costs, are forcing confectioners to consider production cuts. Sugar dealers and industry experts said spot prices for refined white sugar on the continent are trading at around 1,050 euros ($1,016.61) a tonne - their highest level yet. "EU sugar prices are at their highest level ever. Beet sugar factories in Europe run on natural gas and look at where gas prices are," said Julian Price, consultant at julianprice.com and former President of ASSUC, the European Sugar Traders' association.

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