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Monday, 12 November 2012

Commission plans to boost sugar supplies

The European Commission plans to propose steps to increase the EU's sugar supplies in the face of dwindling stocks and a growing gap between domestic and global prices. The Commission seeks  to boost supplies by a total of 1.2 million tonnes through a roughly equal combination of imports of raw cane sugar at reduced duties and sales of domestic beet sugar produced in excess of strict national production quotas.
The announcement followed similar moves last year, when high world prices restricted EU imports and led to sugar shortages in several member states. The EU executive will also approve the export of an additional 700,000 tonnes of out-of-quota sugar in the current 2012/13 marketing year, bringing total exports to 1.35 million tonnes - just within the 1.37 million tonne limit imposed by the World Trade Organization.


Source: EurActiv