Sugar May Rise to 24-Year High on Ethanol Demand, Smaller Crops

Sugar prices may rise to a 24-year high in 2006 as Brazil, the world’s biggest producer, uses more of its crop to make automotive fuels and demand for sweeteners rebounds in the U.S.

..While crude oil prices made headlines in 2005, New York sugar futures jumped 62 percent, second only to a 94 percent surge in natural gas. Sugar’s gain accelerated late last year after the U.S. increased imports because of damage to domestic crops and refineries from Hurricanes Katrina and Rita.

Bloomberg