Speculators vs Integrated Markets

The Ukrainian Minister of Economy blames speculators for the increase in the price of sugar on the Ukrainian market (http://www.ukrinform.ua/eng/order/?id=166911&ulq=sugar).

At the same time the international press notices there is a shortage of sugar worldwide!

http://latimesblogs.latimes.com/money_co/2009/08/the-hottest-investment-of-the-summer-is-in-your-cupboard-sugar-prices-have-reached-28-year-highs-today-continuing-a-bull.html