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Brazil had a severe drought this past summer from May through June. Although this has led to decreases in Brazil’s sugar production and a temporary market rebound for sugar prices, many analysts are predicting a continued drop in the next few months. This is due to a boost in world production overall and a stabilization of demand from China.
The three main suppliers of sugar worldwide are Brazil, Thailand and Australia. Russia and the Ukraine have been stepping up their production as well. Extensive problems due to environmental, economic, or political disasters in these places over the next few months loom large as potential factors that could change all this and contribute to sugar price increases.
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