Sugar High

To prevent defaults by sugar processors that borrowed $862 million under a government price-support system, the USDA may purchase 400,000 tons of sugar to prop up prices. Sugar has fallen 18% to 21.03 cents/lb since the loans were made last October. Higher sugar prices would naturally lead to higher food prices. Yeah! The world price of sugar is only 18.82 cents/lb. Our price is higher due to (wait…) import restrictions!

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