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

October 7, 2023
in Science
Sugar prices hit 13-year high due to El Nino fallout: FAO
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Sugar prices hit 13-year high due to El Nino fallout: FAO
by AFP Staff Writers
Paris (AFP) Oct 6, 2023

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, 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 percent 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.

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FARM NEWS
‘Zero income’ after storms ravage famed Greek apple harvest
Zagora, Greece (AFP) Oct 4, 2023

Engine revving, Greek apple farmer Thymios Economou strains to drive a pickup truck through a rock-strewn dirt road and reach his flood-stricken orchard.

After a while, the vehicle becomes stuck. Economou points to the hillside above, 500 metres (yards) high, eaten into by Storm Daniel that struck central Greece this month.

“There used to be an apple orchard there. All the trees were carried away by the flood,” the 53-year-old tells AFP.

“Some people will not be able to reach their fields at … read more

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