The FAO sugar price index averaged 361 points in October

The FAO sugar price index averaged 361 points in October

Global sugar prices have dropped back as a result of earlier-than-anticipated output from Brazil, the Food and Agriculture Organisation (FAO) has said.

Sugar prices on the FAO food prices index dropped by 5% in October, versus the previous month, averaging 361 points, the FAO said today (3 November). The FAO index is down by 10% from the peak it reached in July.

Earlier-than-anticipated output from Brazil contributed to the easing in prices, the FAO said. Expectations of slower demand from the manufacturing and food preparation sectors also caused the drop in prices, the UN agency said.