Sugar prices tipped to surge

A commodities report from the National Australia Bank is predicting sugar prices will jump above 30 US cents a pound before the end of the year.

Currently, 80 per cent of Australian sugar produce is exported across the globe.

Queensland Canegrowers chief executive Steve Greenwood says prices have almost doubled since May because of struggling crops in South America and India.

"Brazil has been having some challenges in terms of its own production in getting it out and getting it on the market and the other one is India," he said.

"India itself has had some challenges in getting in the sugar industry, so what we've got, we've got a bit of a supply deficit."

source: abc.net.au