Sugar prices on global markets have been rapidly declining in recent years.
According to Yeniavaz.com, citing TradingEconomics, the price of one kilogram of sugar has fallen by 38% over the past year and by 26% since the beginning of the year, to $0.32 (54 kopecks).
For reference: Azerbaijan imports sugarcane, one of the main raw materials used in the sugar industry, from Brazil. In the first eight months of this year, 247,000 tons of sugarcane were imported from Brazil, with an average customs value of 890 manat per ton. During the same period last year, the average customs value of one ton of sugarcane imported from Brazil was over 1,000 manat.
However, it should be noted that despite the decline in sugar prices on global markets last year and the lower customs value of sugarcane imported from Brazil, no price reductions were recorded in the country's retail stores.
According to official information, compared to the beginning of the year, the average selling price of one kilogram of sugar in markets in September increased by 5 kopecks to 2.94 manat, while the average selling price of granulated sugar increased by 3 kopecks to 1.92 manat.

Elnur Ali