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ABC News
ABC News
Business

Sugar prices skyrocket after lower-than-expected output overseas in good news for Australian growers

World sugar prices have increased dramatically this month. (Source: ABC Landline)

Australia's sugarcane harvest is weeks away from starting, and growers are locking in "once-in-a-generation" prices for their crops.   

This month the world sugar price skyrocketed to more than 24.50 US cents per pound — the highest price since 2012.

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