What is "world" sugar?

Unrefined (raw) cane sugar traded at open, public auction on a commodity (futures) exchange is referred to as "world" sugar. Only a small fraction of all the sugar grown and produced, is ever offered for sale at this auction.

Fluctuating world sugar prices, for delivery in various months, are reported daily in the Wall Street Journal and elsewhere as the lb11 Caribbean contract. As with any commodity, traded raw sugar prices reflect supply and demand, weather conditions, political unrest, speculative greed, and a host of other factors common to all futures trading.