There's no sweet side to this bitter news: Due to severe droughts in India, China, and Thailand, there's a sugar shortage looming on the horizon.
Unfortunately, we're likely to see prices climb not only this year, but also next year. Because of the lack of available water, sugar cane farmers have been forced to reduce planting for the next season in the hopes of ensuring the integrity of at least some of the upcoming harvest. Even so, existing drought conditions threaten the quality and health of future crops.
It's possible that next year's shortage could be even larger than 2016's, as the global demand for sugar continues to increase. Certainly bitter news after a decade of sugar surplus!
→ Read more: What You Need to Know About the Sugar Shortage from Food & Wine