Refined-sugar prices in Colombia are down 17 percent this year, according to the Association of Sugar Cane Growers of Colombia, known as Asocana.
The average price of a sack of sugar last month was 79,000 pesos ($43.92), compared with 95,000 pesos in December, the association said today in an e-mailed statement, citing Corabastos, the country’s network of wholesalers. Each sack weighs 50 kilograms. Refined-sugar futures on NYSE Liffe in London averaged $572.69 a metric ton last month, down from $608.08 in December.
“The domestic sugar price, as with all products imported without restrictions, is based on international prices,” Luis Fernando Londoño Capurro, the president of Asocana, said in the statement.
To contact the reporter on this story: Patricia Laya in New York at email@example.com
To contact the editor responsible for this story: Steve Stroth at firstname.lastname@example.org