Growing demand in Brazil for sugar to be turned into ethanol, and a sharp fall in production in India are causing a world sugar shortage. Yesterday the price of sugar hit a 28 year high.
Sugar prices went up by 3%, to 21.55 cents a pound.
Sugar cane production in India is down by 45% year-on-year. Less rain during the monsoon there has damaged agricultural crops. It is also thought that November's crop will be inadequate.
India is the world's biggest consumer of sugar, and the second biggest producer.
Meanwhile wet weather in Brazil, which is the world's biggest producer, has also affected production there.
