Sugar prices rise sharply: Halloween candy may be expensive this year

Severe weather events devastating production in six of the largest sugar-producing countries could send candy prices skyrocketing in the run-up to Halloween this year.

“This has been a very difficult year for global sugar. If you look at the top 10 producing countries this year, six of them had severe weather,” John Davis, chief meteorologist at Everstream Analytics, told FOX Weather, according to the FOX Weather website. . New York Post Tuesday.

Those handing out candy in a traditional Halloween campaign will likely see their bill prices rise this year compared to previous years due to a weaker overall sugar crop, reducing global supply by 10 to 15 percent, according to Everstream Analytics.

This is particularly due to major floods in India, Europe and the United States – the world’s second, third and sixth largest producers respectively – which affected sugar collection, according to US media.

In Thailand, the world’s fourth-largest producer, it was droughts that caused the loss of nearly a quarter of its usual production. The same story in Pakistan and Mexico.

But it’s not just sweets and pastries that could be affected: sugar can also be used to make ethanol, found in some alcoholic drinks, but it can also be processed to be used as a disinfectant or as fuel again.

According to the International Sugar Organization, prices reached their highest levels in 12 years, at 31.54 cents per pound, after rising by 42% last year, according to the organization. New York Post.

For his part, a spokesman for the Hershey confectionery company confirmed last July that fluctuations in sugar prices “will not have any impact on our Halloween,” according to American media.

“Sugar prices are being discussed, but we are not in a shortage situation with regard to sugar supplies, and we do not anticipate any disruption,” Todd Scott, senior director of communications, said earlier.

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