PRUE Department of State and Municipal Finance Associate Professor GV Plekhanova Maria Dolgova said that the increase in sugar and orange prices in the world market this year is an almost inevitable result. Agency reports “Hitting the Primer”.
According to him, this will happen due to a decrease in production and an increase in demand, including in the non-food segment.
Noting that sugar has become more expensive due to the increase in gasoline prices in Brazil, Assoc. This is forcing many consumers to switch to biofuels and ethanol. Too much cane sugar is wasted on these goods and the food industry’s supply is dwindling.
According to the World Bank, the price of oranges in 2022 has increased almost one and a half times compared to 2021. This is due to bad weather conditions in Brazil and the United States, the main exporting countries. Additionally, crops in Florida have suffered from tree disease for several years. According to experts, the basis for the futures of concentrated orange juice are contracts for the supply of sweet orange varieties from Florida and Brazil.
It was previously known that in chainless retail stores in Russia it is the most expensive product. it happened Coffee whose price increased by 39% in a year.