In January 2021, compared to January 2020, the price of sugar, jam, and other sweets increased by 8.9 percent. The January data of the National Statistics Office of Georgia on inflation confirmed the information.
In December 2020, on an annual basis, the price of sugar, jam, and other sweets in Georgia increased by 8.0 percent.
As for the international price of sugar, the FAO sugar price index in January 2021 increased by 8.1% compared to December 2020. Rising prices resulted from increased demand for sugar and lower-than-planned production in the producing countries, Russia and Thailand. The process was facilitated by the hotter-than-usual climatic conditions in South America, which affected the crop.
Sugar fell slightly in the world market in December 2020, when the FAO sugar price index fell by 0.6%. The average rate of sugar prices in 2020 was 1.1% higher than the same data for 2019.
