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Wednesday, 09 November 2011

Hard times ahead for Caribbean sugar

The Sugar Association of the Caribbean (SAC) has been buoyed by a large crop this year, but a recent proposal by the European Union to abolish domestic quotas would likely cut into preferential sugar exports by the SAC and other sugar associations in the African, Caribbean and Pacific (ACP) countries to European markets.

SAC chairman Karl James said 312,000 tonnes of sugar has been delivered to the EU out of an expected 500,000 tonnes this year. The euro has continued its favourable performance against the U.S. dollar, providing an added advantage.

The ACP and the Least Developed Countries' (LDC) cane sugar suppliers have already expressed their "profound concern and dismay" at the commission's proposals to deregulate its own production in the context of the Common Agricultural Policy (CAP) reform announced on Oct. 12.

The CAP addresses how the European Union intends to deal with its agricultural sector from 2014-2020, and the sugar proposal would take effect as of Sep. 30, 2015.

Source: IPSNews

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