Although the price for a kilo of sugar has not yet risen in Finland, this is projected to happen in the autumn.
According to the Food and Agriculture Organisation of the United Nations, sugar price spiked by 14 percent in June compared to May.
The sweets market is already experiencing a slight decline in sales due to the new confectionary tax, which came into effect at the beginning of the year.
The combination of costlier sugar and the confectionary tax could result in higher prices for candy, ice cream and fizzy drinks. A bag of sweets is already 50 cents more expensive than before, but autumn’s rise in sugar price could make candy dearer still.
“Indeed that’s the scariest combination, if the price of sugar stays high,” says Tom Lindblad, Managing Director of Fazer Confectionery Finland. “Then we’re talking about a second big price increase in a really short time, and that’s a true nightmare scenario.”
