The price of sugar has reached a maximum - Reason

The price of sugar on world markets has reached a maximum over the past 11 years.
Yeniavaz.com reports that the price of 1 ton of sugar on the New York Stock Exchange has reached about $530. A year ago, prices were at the level of 420-440 dollars per ton.
It is noted that estimates of production in the largest Asian countries for the production of sugar are lowered. Notably, the Sugar Association of India cut its harvest forecasts by around 3%. In Maharashtra, which accounts for more than a third of India's sugarcane crop (India is the world's second largest sugar producer after Brazil), untimely rains have hampered the harvest.