sugar is a trade commodity - similar to oil but without the wild swings.
Wheat, Rice, coffee, cocoa, corn, orange juice are other products also traded on world exchanges.
Sugar had dropped to a very low level about 2 years ago and started rising again, from bottom to recent top last April, it had doubled in price, but is now stablising near its average for past 5 years.
A while ago, a kg of sugar could be bought for 79c, now cheapest is about €1.29 and it may fall back a bit in spring, but I doubt if we'll see sub €1 again as it was uneconomical to produce it at that price.
Sugar is still something like 1.19 Euro in aldi/lidl/tesco but if you are around Dublin city centre you can get Tate and Lyle 1 kg of sugar for something like 90 cents in the 99 cent store next door to the Iceland in the Ilac Centre.
They also have fancy brown cane sugar which is really good and still cheaper than the regular unbranded sugar elsewhere.
Well it is still 90 Cent for a Kg of Tate and Lyle white sugar in the Ilac centre next door to the Iceland. That's exactly the same price and you don't have to buy 10 of them. But that 20 kg (2 packs of 1kg ?) for 17 euro sounds really good