State-owned company Taiwan Sugar Corp said today [Monday] that it is mulling a floating price policy that will allow the island’s sugar prices to move in line with international markets.
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Taiwan Sugar lost its long-term monopoly when Taiwan joined the World Trade Organisation this year. The company is considering basing local sugar prices on the previous day’s closing price in London, reported Reuters.
Taiwan sugar prices are currently adjusted monthly by taking the average of international prices.
Taiwan Sugar Vice President Chiu Chien-nan declined to confirm the date, saying: “We are still studying whether it’s feasible to use London’s previous day close to set the local price.”
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