WHY HALLOWEEN CANDY COULD BE MORE EXPENSIVE THIS YEAR
According to The Wall Street Journal, sugar costs are experiencing a significant surge, and the driving factor behind this rise is an agriculture policy mandating 85% of U.S. sugar purchases to be sourced from domestic suppliers. In May, the price of raw sugar reached its highest level since January 2011, standing at $42.56 per pound, while the USDA reports that refined beet sugar price climbed to 62 cents per pound.
As a result, some candy suppliers are declining orders and scaling back production. However, despite these challenges, experts believe that Halloween candy shortages are unlikely. Brad Rubin, a food and agribusiness analyst at Wells Fargo, states, "While candy prices have experienced upward pressure from the cost of sugar, Americans should have plenty for the fall holiday."