>>The move will
wipe out 600 union jobs that pay an average of $15.50
an hour."

Not as clear as all that. First, much of the world depends on beet
sugar, and I pay a premium for cane sugar as brown sugar. I use beet
for everything else. I just checked a package of brown cane sugar,
store brand and it says €2.40 for 500 g, or 1.1 pounds. That's
almost $3 a pound.
Second, $15.50 an hour is very high pay indeed here in Italy and is
paid to highly skilled workers only. The employer pays a similar
amount for various social and tax schemes, all nice to have but keeping
cash earnings down.
So, from my POV there really isn't a world market price because you are
talking two different products entirely.