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Business

Drought ravages Thai sugar cane crop

A global sugar shortage is looming and prices are soaring. The world's top sugar cane exporters, India and Thailand, are being ravaged by a severe drought brought on by the El Nino weather phenomenon. Thailand - the world second-largest sugar cane exporter - is going to be shipping 20 to 30 percent less of the sweetener compared to last year. And the situation may even get worse next year.

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