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Tuesday, 22 November 2016

Developments for ACP Sugar Suppliers to the EU Market

The sugar industry is widely recognised as making a significant socio-economic contribution to many African, Caribbean and Pacific (ACP) Group of States, particularly in generating export earnings and creating employment in rural areas. Nevertheless, it is important to note that many ACP countries have been diversifying to reduce their reliance on the sugar industry. This means that, in some countries, sugar is not as important as it was in the past. The ACP sugar group is diverse. It includes some of the world’s lowest cost sugar producers where production has been growing over time (Malawi, Swaziland, Zambia). It also includes some higher cost industries, where production has been falling and the milling sectors are suffering from poor financial performance (Barbados, Guyana, Fiji, Jamaica). Sugar is produced in over 100 countries worldwide. However, sugar prices in the world market are extremely volatile. In the long term, they are driven by the supply costs of a small number of world market exporters, most notably Brazil. Moreover, the vast majority of industries operate with some form of government support. As a result, sugar is recognised as being a highly protected commodity.

Source: acp.int