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Spartaaaaa wrote on 2011-01-25 11:30
by David Gutierrez, staff writer
(NaturalNews) Global sugar prices are at their highest level in 30 years and may rise higher as fears of a worldwide shortage loom.
The high prices are part of a larger trend of high food prices caused by loss and degradation of arable land, climate uncertainty and price speculation. In the case of sugar, prices were pushed to record highs by a drought in Brazil, leading to a 30 percent drop in sugar cane production.
Brazil is the world's largest sugar exporter, responsible for roughly half of the global market. Analysts are predicting an even smaller harvest next year due to a widespread need to replant aging crops.
"Anything affecting Brazil will have a direct impact on trade flows," said sugar trader Jean-Luc Bohbot of Sucres et Denrees.
Industry and market followers are also carefully watching India, which is expected to have a large sugar harvest this year. The government in New Delhi has not yet announced, however, how much of the crop it will allow to be exported. Analysts have predicted between 1 million and 2 million metric tons, and any lower amount or any delay in starting exports could push prices even higher.
"They need to start selling additional volumes by mid-December, otherwise the hole in the market is getting wider," said Peter de Klerk of British sugar company Czarnikow.
Concern over the instability of the global sugar supply caused raw sugar futures to rise 135 percent in a single day in November.
Across the world, sugar is a major source of cheap (albeit empty) calories, and any rise in price will push up the cost of other foods, as well. In the United States, high sugar prices could lead industry to start favoring the other major U.S. sweetener, high fructose corn syrup.
High fructose corn syrup is increasingly coming under scrutiny as potentially being even more additive than regular sugar.
Sources for this story include: http://www.ft.com/cms/s/43cfbb7a-e6b2-11df-99b3-00144feab49a,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F43cfbb7a-e6b2-11df-99b3-00144feab49a.html&_i_referer=http%3A%2F%2Fwww.naturalnews.com%2Fz031100_sugar_shortage.html
Link to article:
http://www.naturalnews.com/031100_sugar_shortage.html
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Akemii wrote on 2011-01-25 11:34
Us and our Sugar Canes <3
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Cynic wrote on 2011-01-25 11:54
Sigh. And Gas prices are supposed to go up again..
Stupid Americans. >_>
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Akemii wrote on 2011-01-25 12:13
Quote from Cynic;303975:
Sigh. And Gas prices are supposed to go up again..
Stupid Americans. >_>
You should refrain from saying that, considering a lot of people from here are American.
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Joker wrote on 2011-01-25 12:30
yes but im sure... even the americans are saying "Stupid Americans" ....
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Joker wrote on 2011-01-25 12:31
Quote from Pride;303983:
You should refrain from saying that, considering a lot of people from here are American.
yes but im sure... even the americans are saying "Stupid Americans" ....
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Akemii wrote on 2011-01-25 12:44
Quote from Joker;303992:
yes but im sure... even the americans are saying "Stupid Americans" ....
lmao I know, but you never know who might get offended.
Just watching out for my buddy Cynic <3
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Athde wrote on 2011-01-25 14:37
Sadly alot of us are stupid. Unfortunately the stupid people are usually the ones that are in power... God I hate that.
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Cannibal wrote on 2011-01-25 14:39
Quote from Pride;303983:
You should refrain from saying that, considering a lot of people from here are American.
I'm pretty sure none of the Americans are going to be offended by something that true.
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Valkyrie wrote on 2011-01-25 17:20
Quote from Cynic;303975:
Sigh. And Gas prices are supposed to go up again..
Stupid Americans. >_>
Well, if you can magically pop gasoline out of your arse, you should go talk to them so they stop fighting on the far east.
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Chockeh wrote on 2011-01-25 20:09
Quote from Pride;304000:
lmao I know, but you never know who might get offended.
Just watching out for my buddy Cynic <3
They've heard it way too much to be that offended.
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Mama wrote on 2011-01-26 04:12
sugar? who needs sugar! america has corn.
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Mentosftw wrote on 2011-01-26 04:20
Noooo!
Now where will we get diabetes?
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Spartaaaaa wrote on 2011-01-26 10:59
Quote from Mentosftw;304773:
Noooo!
Now where will we get diabetes?
Don't worry, we still have plenty of high fructose corn syrup to do that!
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Royale wrote on 2011-01-26 11:02
pssh who need sugars, we got maple syrup!
*drinks*