In your interest.
Online Personal Finance Magazine
No beating about the bush.
Sugar price has hit a 28-year high on the international market (ICE). One of the reasons is India’s deficient monsoon. Production in India is projected to fall to 15-17 million tonnes in 2009-10 from the initial forecast of 20 million tonnes. Paradoxially, what has made things worse is excess rainfall in Brazil which is the world’s largest sugar producer. Indian prices have also risen in anticipation of a surge in demand during the coming festive season and fears that the government will impose import restrictions to curb prices.