Europe is facing a sugar shortage and food industries are paying dearly to secure supplies after a heat wave crippled local harvests this year.
Manufacturers of sweets, cakes and soft drinks are paying much more than usual to obtain sugar in the short term, and the risk of some going out of business has increased, according to CIUS, the association representing European sugar buyers. For consumers, it is a threat of further inflationary pressure.
The association wants the European Union to temporarily suspend import tariffs to encourage shipments of refined sugar.
To alleviate the crisis, Europe could buy from countries . . .