Tuesday, 29 September 2009

Rum money running out - EU programme to end despite rum-makers plea

The European Union is sticking to its guns that the integrated rum programme, which funds the modernisation of the rum producing plants in Cariforum countries and prepares regional producers for full liberalisation of the EU rum market, will not be extended after the planned end date of June 2010. This is despite continuing lobby efforts by the West Indies Rum and Spirits Association (WIRSPA) for the seven-year-old programme to be rolled over. The programme is financed by the EU with €70 million, and matched by Cariforum rum producers with €65 million. An official extension request from the regional rum producers was submitted to the EU last month, but the EU office in Jamaica said the Europeans have already told the rum makers, no.

Source: The Gleaner