Brussels to suspend sugar import duties

  • November 15, 2010
  • source: just-food

The EU is to lift import duties for 666,000 tonnes of sugar from any exporting non-EU country to counteract the effect of high sugar prices.

Sugar

EU member state representatives have backed a European Commission proposal to suspend a EUR98 (US$134.50) a tonne duty on EU imports of raw cane sugar for refining from 1 December to 31 August. This would cover 666,000 tonnes of sugar.

“High world market prices for sugar currently make the cost of these imports prohibitive, which risks disrupting supplies,” said a Commission note.

The International Monetary Fund says world sugar prices rose from US$0.18 cents a pound in January-March 2009, to US$0.26 last month.

just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/


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