Inverted sugar

"Sugar prices, already depressed by a global glut, have further room to fall in the coming months due to the weight of exports from India as the country becomes the world's top supplier of the sweetener.

India is set to overtake Brazil as the world's leading sugar producer in the current crop year, and is forecast to harvest a second consecutive record crop of 32-33 million tonnes.

A key question was how much of this tonnage will be sold to the huge al-Khaleej refinery in Dubai."

So while the price of all other commodities is rising due (in part) to the increase in oil price, sugar price is decreasing, and this in spite of the shift in the use of sugarcane in Brazil from sugar production to ethanol?