INTERNATIONAL REGULATORY ROUND UP – RUSSIAN INVASION OF UKRAINE INFLATES SUGAR AND OIL PRICES
April 25th, 2022
RUSSIA’S invasion of Ukraine has prompted a major increase in sugar prices, the UN Food & Agriculture Organisation (FAO) has said. Its FAO Sugar Price Index averaged 117.9 points in March, up 7.4 points (6.7%) from February, and up 20% year-on-year. The March price increases were caused by “a sharp increase in international crude oil prices”, which rose from USD94.05/barrel (Brent crude) on February 23, the day before Russia invaded Ukraine, to USD104.84 on April 26, with some higher price spikes in between. This has increased demand for sugarcane ...
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