Sugar prices in Colombia are down 17 percent this year, according to the Association of Sugar Cane Growers of Colombia, known as Asocana.
The average price of a sack of sugar last month was 79,000 pesos ($43.92), compared with 95,000 pesos in December, the association said today in an e-mailed statement, citing Corabastos, the country’s network of wholesalers. Each sack weighs 50 kilograms. Refined-sugar futures on NYSE Liffe in London averaged $572.69 a metric ton last month, down from $608.08 in December.
“The domestic sugar price, as with all products imported without restrictions, is based on international prices,” Luis Fernando Londoño Capurro, the president of Asocana, said in the statement.