Fires in Brazil’s Sugarcane Fields: A Ripple Across Global Markets

Recently, significant fires have swept through Brazil’s sugarcane fields, notably affecting São Paulo, a critical area for global sugar production. This disaster triggered a 3.5% hike in raw sugar prices in New York, reflecting the fires’ immediate economic impact. About 5 million metric tons of sugarcane were destroyed, representing 1.4% of São Paulo’s total area […]