Covid-19’s Bad Effect on Sugar:

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Customers began stockpiling sugar before global lock-ups when the COVID-19 was spread to other regions of the world.

Despite the fact that the next wave of domestic consumption arrived quickly, it became clear that this would not be enough to compensate for the loss of sugar used in domestic consumption, with average prices in May being 30% lower than in February 2020.

During the pandemic’s onset, the demand for ethanol has plummeted.

This loss was estimated to be worth roughly four million tons of sugar.

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