Imagine how the $2.5 billion we waste on higher priced sugar could multiply.
Imagine how the $2.5 billion we waste on higher priced sugar could multiply.
Smart "free trader" that you are you would know the price of sugar is going up because the MARKET is dictating it.
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Sugar Jumps to 24-Year High on Fuel Use: World's Biggest Mover
Jan. 20 (Bloomberg) -- Sugar prices in New York surged to a 24-year high as more supplies are used for fuel because of surging energy costs. Today's 6.4 percent rally was the biggest fluctuation of any commodity.
Sugar has jumped 92 percent in the past year as Brazil, the world's biggest producer and exporter, converted more of its crop into ethanol fuel to cope with record gasoline prices. Oil jumped as much as 2.3 percent today to a four-month high on concern for possible supply disruptions in Nigeria and Iran.
``Sugar is going ballistic because of the oil price,'' Sam Tilley, head of research at London-based commodities brokers Sucden (U.K.) Ltd., said in an interview today. ``As oil prices go higher and higher, the only real alternative at present to gasoline is ethanol.''
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You sound like the "ministers" at the WTO the way you harp on the sugar industry here. Seems like your loyalties are with other countries.
I think we have veered, yet again, into an alternate universe.