Raw Sugar Advances to 29-Year High on Global-Output Concern

Raw-sugar prices jumped to a 29-year high on forecasts for lower global production after adverse weather damaged crops in Brazil, the world’s biggest producer.

Global output will be 167 million metric tons in the year that began this month, down from an estimate of 173 million tons, Paris-based Sucres et Denrees SA said yesterday. Production in Brazil’s Center South tumbled 30 percent in the first half of October from a year earlier, Unica, an industry association, said on Oct. 28.