Higher Sugar Prices Raising Holiday Candy Costs

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Inflationary pressure is also a very serious factor in the confectionery industry since the market price of the sector's most important raw material, sugar, has practically doubled from the end of September to the beginning of October, Sándor Sára, president of the Association of Hungarian Confectionery Manufacturers, told business daily Világgazdaság.

According to Sára, the price of sugar per ton was around EUR 500-550 euros until the fall of this year; it now costs EUR 1,000-1,100.

But while the market price of sugar has doubled in a few weeks, the currently available parlor sweets, chocolate Santa figures, and advent calendars were already ready in the summer, so they "only" rose in price by 15-20%.

Next year, a much higher increase in the price of sweets is expected.

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