The largest growth in sugar price in a decade did not make investors change their opinion on the worst commodity in recent years, Bloomberg reports.

Price gains were caused by strengthening currency in Brazil, which is the leading commodity producer. However, investors do not expect further increase.

Such forecasts are mostly caused by high level of production in India, the second largest producer in the world. Besides, sugar consumption is declining globally as consumers turned to healthy food.

Price of sugar was growing rapidly eight days in a row until Tuesday, then growth slowed down and price reached 13,02 cents per pound on Thursday.

This season world supply will exceed demand by 5,8 million tons. Last year surplus was 11,8 million tons. Main growth is accounted for such countries as India and Thailand. India this year will gather another record harvest, 5 million tons of which will go for export.

Surplus will not be reduced even due to closure of refining plants around the world, lower harvest in Brazil and Europe due to drought. As a example, output in main region of Brazil will fall by 25%, while production in Europe by 10%.