SUGAR HITS NEW 30-YEAR PEAK

SUGAR is trading at its highest level for three decades, raising fears about global food price inflation. The soft commodity yesterday surpassed the 29-year high it hit in February this year, on concern about low crop yields in Brazil and restricted exports from India. Raw sugar futures topped 30.6 cents per pound yesterday before settling lower. Prices have now risen by a quarter in the first half of October.