The price of sugar may even double

The price may double soon

“The price of granulated sugar in stores would rise by one hundred percent, to around HUF 500 per kilogram, in a short time if the government were to lift the price cap introduced at the beginning of the year. Today, traders are losing a lot of sugar sales, so they only keep the minimum required stock in their stores. Spectacular market price increases improve the profitability of domestic sugar beet production and processing, but they definitively put an end to the “period of cheap sugar”.

– writes novekedes.hu.

This year’s campaign in the domestic sugar beet harvest is in full swing, and after the vicissitudes of recent years, it is a positive change that producers can now work under much better financial conditions.

The purchase prices have risen from last year’s level of 30 euros per ton to 48-50 euros, but depending on quality and surcharges and premiums, they can reach 60 euros, which can mean a double price increase compared to last year.