Record-high sugar prices in the European Union, nearly three times levels seen a year ago following extreme weather and a surge in energy costs, are forcing confectioners to consider production cuts.
The record price of a widely-used food staple is another headwind for EU policymakers as they try to control inflation and curb a cost of living crisis.
"We are in a sugar market crisis," Muriel Korter, director general of EU confectionery industry association Caobisco, told Reuters. Sugar production is among the most energy-intensive industries and is especially reliant in the EU on gas.
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