EU: Brussels combats high sugar prices
The EU is pushing ahead with changes to sugar quotas in order to combat current high sugar prices and short supplies
The EU is pushing ahead with changes to sugar quotas in order to combat current high sugar prices and short supplies.
The EU's agriculture management committee has backed opening duty free import quotas of 300,000 tonnes of sugar and 400,000 tonnes of industrial sugar. Also, it approved the release into EU markets of 500,000 tonnes of EU-produced sugar and 26,000 tonnes of isoglucose currently in storage.
Meanwhile, member states also backed setting export quotas to allow EU sugar producers to serve established foreign customers, whilst not reducing domestic supplies. These will be set for 2011-12 at 650,000 tonnes of sugar and 50,000 tonnes of isoglucose.
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