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Sugar prices have risen sharply around the world

Sugar prices have sharply increased due to droughts and floods caused by El Niño climatic phenomena.

27 November 2023

Worldwide sugar prices have risen sharply. This was due to the duration of drought in some regions and widespread flooding in others. These extreme weather events are associated with El Niño climate events.

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Sugar prices have risen sharply around the world

Sugar prices have sharply increased due to droughts and floods caused by El Niño climatic phenomena.

Export of ginseng from Primorsky Krai

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According to the analysis of the Russian Federal Service for Veterinary and Phytosanitary Surveillance (Rosselkhoznadzor), prices for grain and oilseeds are rising in Russia, with sunflower leading the trend.

The rise in sugar prices on the global markets due to climate risks is causing concern among traders.

Deputy Minister Ksenia Shevelkina announced that federal funding for agriculture will reach 15 billion rubles by 2025.

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The increase in the export duty on wheat from the Russian Federation to 3020.3 rubles will bring changes to the grain market until December 3.