As the 2023 harvest approaches, sugarcane growers are locking in some of their best prices in decades.
abc.net.au/news/sugar-prices-skyrocket-after-lower-than-expected-output-overseas/102239886Australia's sugarcane harvest is weeks away from starting and growers are locking in "once-in-a-generation" prices for their crops.Sugar prices have surged this month, going beyond $800 a tonne for the first time since 1980Australian growers are locking in prices two to three years in advance
"Just two years ago the sugar price languished below $400 per tonne, not even covering the cost of production for many growers — it was a pretty grim time," chairman Owen Menkens said. Commodity analyst Tom McNeil said global sugar supplies were tight after lower-than-expected output from some major sugar-producing nations in the Northern Hemisphere.
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