Wednesday, December 14, 2005

SOUR NEWS FOR SUGAR LOVERS


The holidays mean lots of goodies on the table, including sugary sweets, but the price of sugar is going up because of crop damage from Hurricanes Katrina and Rita. And hurricane damage to U.S. oil production is now forcing higher prices for anything wrapped in plastic.

Since the recent hurricanes, wholesale sugar prices in the United States have increased from 28 cents per pound to more than 40 cents per pound, according to the Department of Agriculture.

And it's not just sugar you'll pay more for this holiday season. For instance, Hershey is raising its candy prices one percent because of higher packaging and transportation costs. Kraft and others are, too. Some shoppers say the best way around higher food prices is to buy generic instead of name brand.

Read more…


Hurricane Damage Driving Up Sugar Prices
Story by MATT PENE
KCEN-TV

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posted by Señor Enrique at 6:27 AM


4 Comments:

Blogger Sidney said...

Do you know if the increased sugar prices in the US will have a positive impact on the sugar industry in the Philippines? Is this good or bad news for the 400,000 Filipino's who depend on the sugar industry, most of which are small-scale tenant farmers?
I guess that only the big traders will make more money(???)

December 14, 2005 11:56 AM  

Blogger Senor Enrique said...

I really have no idea if the U.S. will now allow increased imports from foreign countries, Sidney. Not unless the U.S. local sugar industry will be awarded increased subsidies by the federal government.

I guess we need an economist to enlighten us. It'd be very interesting indeed to hear what he/she has to say.

Also, I didn't even realize there are about 400,000 Filipinos dependent upon the local sugar industry. But I'm sure they need not worry. I personally know how good tasting sugar is :)

December 14, 2005 12:14 PM  

Anonymous Jayred said...

I wouldn't mind paying extra for those delicious Hershey milk chocolate bars. :-) Somehow, I miss them here in Switzerland.

Thanks for visiting X-Pat Files, Ericsac.

December 15, 2005 12:29 AM  

Blogger Senor Enrique said...

I'll take some Swiss truffles! :)

December 15, 2005 6:39 AM  

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