U.S. Sugar Fanatics Face Higher Prices After Harsh Weather Hits Crops
- Output estimate destined for another cut by U.S. agency
- Refined-sugar prices may jump 30%, JSG Commodities says
Photographer: Andrey Rudakov/Bloomberg
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Sweet treats in the U.S. may cost more after adverse weather battered cane and beet crops, spurring forecasts for higher prices for refined sugar.
Domestic processors face “very challenging conditions,” and sugar prices will likely be at a premium of 25% to 30% to average levels of around 35 cents a pound last season in Midwest markets, Frank Jenkins, the president of JSG Commodities in Norwalk, Connecticut, said in an email.