Sugar Prices Reach 28-Year High

Raw sugar

World sugar prices have surged to historic levels as India, the largest sugar consumer, turns to imports after a poor monsoon decimated its cane crop, according to the news service Reuters.

New York raw sugar futures have hit a 28-1/2-year peak at 23.33 cents per pound while the spot white sugar contract in London surged to an all-time high on Thursday at $589.90 a ton.

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