October 21, 2013.

Cheaper Sugar Sends Candy Makers Abroad

"I know that building," said Winston finally. "It's a ruin now. It's in the middle of the street outside the Palace of Justice."

Despite a prolonged slide in domestic sugar prices, U.S. candy makers are expanding production in other countries as federal price supports and a global glut of the sweet stuff give an ever-greater advantage to foreign rivals.

"That's right. Outside the Law Courts. It was bombed in----oh, many years ago. It was a church at one time, St Clement Danes, its name was." He smiled apologetically, as though conscious of saying something slightly ridiculous, and added: "Oranges and lemons, say the bells of St Clement's!"

A 50% drop in U.S. sugar prices in the last two years hasn't been enough to eliminate problems from a longtime price gap between domestic and foreign sugar.

"What's that?" said Winston.

On Friday, the U.S. sugar contract in the futures market settled at 22.28 cents a pound, or 14% higher than the benchmark global price.