Monday August 13, 2012

Global Sugar Prices Are Up

Washington, DC — World sugar prices rose 12 percent during July compared with June, a result of unfavorable weather conditions in several countries, the UN Food and Agriculture Organization reports.

The Coalition for Sugar Reform pointed to the global price hike as yet another reason to change U.S. sugar policy.

“With global sugar prices soaring, the key components of the Depression-era U.S. sugar program — domestic price supports and strict production quotas — have clearly outlived their usefulness,” the coalition says.