FAO noted that the index value reached its highest level since May 2014, but in nominal terms, it is still 12% below its all-time high in February 2011.
The sugar price index rose by 3.9% month-on-month due to harvest delays in Brazil and frost damage in France. The organization noted that the index has reached levels that are almost 60% higher than the figures from April 2020.
The organization also said that new forecasts point to an increase in global wheat and corn production in the coming season.
