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Monday, 10 March 2008

Mozambique: EC funds rise in sugar production

Mozambique is expected to increase, over the next four years, its sugar production from 240,000 tons a year to 500,000 tons - a considerable part of which will be for export to the EU, according to Mozambican newspaper Notícias. Mozambique’s agriculture minister, Soares Nhaca and the head of the EC delegation in Mozambique, Glauco Calzuola, signed a funding deal in Maputo on Monday worth €6 million for the second phase of the accompanying measures for the sugar sector, for the 2008-2010 period. The EC established a technical and financial assistance program to support the process of adaptation by countries that signed the Sugar Protocol to the new realities of the market due to reforms to the EU sugar regime. The program, which covers a period of eight years, has been in place since 2006 and will run until 2013. Mozambique has already received funding of €560,000 from the EC for the first phase of the program. Calzuola said that as a result of the EU reform, the guaranteed price for refined sugar would be reduced by 36 percent over the next four years. Despite this reduction, the prices set by the reform will make it possible for the European market to be attractive in relation to the world market, particularly for ACP (Africa, Caribbean and Pacific) countries which, like Mozambique, will continue to benefit from preferential access to the EU market
Source: macauhub.com.