El Nino aftermath drove sugar prices to 13-year high.

As El Nino hurt US production, global sugar prices rose to their highest level in over 13 years in September,

Global food prices stabilized last month, while the FAO's Sugar Price Index rose 9.8% from August to its highest level since November 2010.

El Nino, which occurs every two to seven years, is linked to increased ocean surface temperatures in the central and eastern tropical Pacific Ocean.

According to the UN's World Meteorological Organization, the nine-to-12-month phenomena began in July.

Like save and share

Concerns over a tighter global supply picture in 2023-2024 have raised the FAO's Sugar Price Index for two months.

This mainly reflects early forecasts pointing to production declines in key sugar producers, USA due to drier-than-normal weather conditions associated with the prevailing El Nino event

It stated that higher crude oil costs raised global sugar prices.

For More Stories