Sugar Shortage?

On the news last night was a story about the price of sugar dramatically increasing over the next year. This caught my attention and so I had to do a little research :) I have read several articles on the rising price in sugar and there seems to be a mixed reaction the sugar increase. Some say the increase will be dramatic, while others think it will only be a small increase. Either way, I have concluded that I will be stocking up my sugar supply, just in case! This does remind me a little of the rice scare last year, but either way, if the prices even go up a few dollars, I would rather prepare now and save later :) Perhaps these increases are the reason we didn't see sugar on sale this past holiday season. I guess the $10 for a 25lb. bag is as good as we are going to get :(

This morning I have called around the four lowest price leaders to see what their prices are on sugar and I have proof of the rising costs! Just last month I price checked Costco & Sam's Club and their 25lb. bag of sugar was just over $10/25lb. bag. Now it is $14.72 and $14.79--ugh! So, for those of you here in the Utah valley, the Riverton Walmart has their 25lb. bags for $11.72--the NEW lowest price. The LDS Dry Pack Cannery has their 25lb. bags for $13.22 (going up January 16th). I hope this helps in your shopping trip for sugar. Good luck!

Here are a few quotes and links so you can see what information is out there about the rising cost of sugar:
Sugar Prices Double in 2009:

http://in.reuters.com/article/economicNews/idINIndia-45085020091231

Los Angeles Times said,
"The futures price of sugar traded on world markets closed at 22.2 cents a pound Thursday, down about a penny from the previous day but still up 72% in six months. Weather problems in the sugar-producing regions of India, the diversion of Brazilian sugar cane to produce ethanol, and a growing global sweet tooth are behind the increase, according to analysts.

In a recent letter to Agriculture Secretary Thomas Vilsack, the group warned of "unprecedented shortages." Without higher quotas on sugar imports, "consumers will pay higher prices, food manufacturing jobs will be at risk and trading patterns will be distorted," the food companies said.

There is considerable debate about whether the run-up in sugar prices is a sign of a looming crisis. Just a fraction of global sugar supplies is traded on international markets. And according to the USDA, the wholesale price of sugar in the United States has risen by just 15% from a year ago to a little under 35 cents a pound."