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English: World raw sugar prices since 1960 with selected production/use/policy notes. Prices from 1960 to 2010 are ICE spot sugar prices. Prices from 2011 onward are ICE contract 11 nearby futures prices. Data compiled by the USDA.
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Sugar prices spiked in the 1970s because of Soviet Union demand/hoarding and possible futures contracts market manipulation. The Soviet Union was the largest producer of sugar at the time. In 1974, Coca-Cola switched over to high-fructose corn syrup because of the elevated prices. [6] [7] [verification needed] Sugar prices 1962–2022
Years 2014–2016 is 100. The FAO Food Price Index (FFPI) is a food price index by the Food and Agriculture Organization (FAO) of the United Nations. It records the development of world market prices of 24 agricultural commodities and foodstuffs from five major food commodity groups.
Sugar worldwide is trading at the highest prices since 2011, mainly due to lower global supplies after unusually dry weather damaged harvests in India and Thailand, the world's second- and third ...
Sugar Prices 1962-2022 USD per pound. The sugar industry subsumes the production, processing and marketing of sugars (mostly sucrose and fructose).Globally, about 80% of sugar is extracted from sugar cane, grown predominantly in the tropics, and 20% from sugar beet, grown mostly in temperate climate in North America or Europe.
For companies in the candy-making business, low sugar prices overseas are making it more attractive to move their manufacturing facilities out of the U.S. Countries like Malaysia and Guatemala are ...
Cuba and the Soviet Union signed a long-term trade agreement in January 1964 that allowed for the export of 24 million tons of sugar at a fixed price of 6.11 cents per pound from 1965 to 1970. Due to decreasing sugar prices after 1963, the Soviet Union paid almost twice the world price of sugar.