Commerzbank forecasts that the price of sugar will rise to 15 cents a pound in 2009, on the back of significantly tighter supply from India and continued demand for sugarcane ethanol. The gurus at FT Alphaville latched onto this on Thursday, noting that Standard Chartered predicts a peak of 16 cents per pound by the end of this year. If that prediction hits the mark, it’d mean a 50% price rise since the start of 2008.
In other news, Def Leppard are releasing a remastered version of their 1987 smash hit album Hysteria. The highlight of the album is a new version of one of their biggest hits: Pour Two-Thirds as Much Sugar On Me.
(JRE is doing its bit for the environment this weekend: this post contains 100% recycled jokes.)