Why is sugar so expensive? The main culprit is soaring natural-gas prices
. But for some supermarket necessities—such as sugar, flour and butter—prices are still soaring to record highs . In France bakers have taken to the streets to protest about the rising price ofstaples. In Britain supermarket bosses are accusing food producers of profiteering from price rises on various household essentials.
A poor European harvest is partly to blame. The area of land devoted to growing sugar beets is down by 4% this year, according to Südzucker, the continent’s biggest sugar producer. A hot and’s sugar output to fall to 15.5m tonnes in the 2022-23 season, down by 6.9% from the previous year. Imports are falling short, too. Last year Brazil, the world’s biggest sugar exporter, cut its forecast for this season’s crop by 16%, citing unfavourable weather.
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