Sugar prices hit 13-year high due to El Nino fallout

Global sugar prices soared to their highest level in almost 13 years in September as the El Nino weather phenomenon hit production in India and Thailand.
By AFP
Global sugar prices soared to their highest level in almost 13 years in September as the El
More To Read
Nino weather phenomenon hit production in India and Thailand, the Food and Agriculture
Organization said Friday.
While world food prices steadied as a whole last month, the FAO's Sugar Price Index jumped
by 9.8 per cent compared to August, the highest point since November 2010, the UN agency
said.
El Nino, a climate pattern that occurs on average every two to seven years, is typically
associated with warming ocean surface temperatures in the central and eastern tropical
Pacific Ocean.
The phenomenon, which can last between nine to 12 months, started in July, according to
the UN's World Meteorological Organization.
The FAO's Sugar Price Index has now risen for two consecutive months due to increasing
concerns over a tighter global supply outlook in the 2023-2024 season.
"This mainly reflects early forecasts pointing to production declines in key sugar producers,
Thailand and India, due to drier-than-normal weather conditions associated with the
prevailing El Nino event," the FAO said.
"Higher international crude oil prices also contributed to the increase in world sugar prices,"
it added.
Top Stories Today
- Gachagua unveils Democracy for Citizens Party, official launch set for Thursday
- Somalia may wait longer for US funding decision on AU mission
- President Ruto postpones tour of Ukambani region
- Court gives KFCB nod to regulate social media content
- Boda boda rider in MP Were murder arrested in Nairobi's Kibera Darajani
- President Ruto in trouble with US Senators over China remarks
- Senate launches inquiry into rising deaths in police and prison custody
- Smart tips for navigating Eastleigh’s BBS Mall, region’s largest shopping centre
- World Bank: Africa risks missing growth dream over conflict, weak reforms
- Petition seeks DCJ Mwilu’s ouster over judges' appointment in Gachagua case
- Over 100,000 small businesses to benefit from Sh28bn grant
- Budget cuts jeopardise education as key programmes struggle
- Taita Taveta launches policy to attract investors, boost local economy
- How Sixth Street has transformed to become Eastleigh's leading vegetable market
- Samsung dominates Kenya’s smartphone market as Tecno slips
- AU aims for 60 per cent local vaccine production by 2040
- Global internal displacement reaches record 83.4 million by end of 2024
- Tanzania nullifies Chadema appointments over quorum breach
- TSC budget shortfall leaves 20,000 intern teachers in limbo
- Victims of human-wildlife conflict urged to claim compensation
Reader Comments
Trending
