Global sugar prices rally amid key producer Brazil's presidential election

Key points

• Global sugar prices have climbed to a 19-month high, easing pressure on struggling Australian farmers. Raw sugar reached 21.10 US cents a pound on Tuesday, up from 13.36 US cents in June.
• The rise follows a poor Brazilian crop and a run-off presidential election in Brazil, the world's largest sugar producer. Analyst Eder Vieto says low sugar content in Brazilian cane has led mills to make more ethanol, which could tighten supply.
• North Queensland farmers say the higher prices will help them cover costs for fertiliser, chemicals and fuel.