is seeing an unrivalled surge in domestic demand for sugar, as an added appetite within the world’s largest producer is aggravating woes for a world struggling from shortfalls.
“Most of the additional volume was sold to the industry,” Unica director Antonio de Padua Rodrigues said. Pandemic lockdowns have changed the way people consume food while the president’s low-income aid programme has boosted demand in Brazil’s poorest regions such as the northeast, said Gustavo Theodozio, an executive at M Dias Branco, a major cookie producer in the country. The company’s sugar purchases jumped 21% this year through September to meet a similar rise in cookie sales.
Crystal sugar spot prices at mills in Sao Paulo jumped 45% this year to a record high amid strong exports and low domestic supplies, according to University of Sao Paulo research arm Cepea.
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