The main reasons are as follows: first, the sugar content of sugarcane to be harvested in Brazil, the world's largest sugar producer, has decreased due to heavy rain, and the sugar production in India, the world's second largest sugar producer, has also decreased significantly due to drought; Secondly, according to the forecast of relevant institutions, the shortage of raw sugar is nearly 8 million metric tons this year, and it is expected to reach 5 million metric tons next year, while the stock of related raw sugar has dropped to nearly 20 million metric tons, which is close to the lowest level in history. It is the above factors that led to the sharp rise of sugar futures. At the beginning of this year, the related sugar new york raw sugar has increased from about 1 1 USD per pound to about $23 now, which has more than doubled.