Cyclone Yasi pushes up sugar prices to new high

3 February, 2011 by (comments)

First there were devastating floods, now Cyclone Yasi, which battered the state of Queensland in Australia yesterday, is thought to have destroyed half of the state’s sugar crop, forcing up the price of sugar on world markets to an all-time high.

Here are some vital statistics:

– Queensland is among the world’s top three sugar cane exporters
– Queensland ships around 10% of global sugar cane exports
– One-third of the state’s sugar cane crop lies in the path of the cyclone

Sugar prices in particular and world food prices in general have been on the rise for a while – click to hear what CIAT’s agricultural economist Bernardo Creamer thinks is going on.

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Filed Under: Agro-ecology and Economics @en