The European Union is handing out £1bn (US$1.5bn) in sugar subsidies to its processors, at the expense of the world's poorest farmers. A report by Oxfam claims that the EU subsidies allow the European sugar industry to dump millions of tonnes of subsidised sugar on international markets. British Sugar is one of a "handful of companies making massive profits under a price-fixing deal set by Brussels which pays farmers and firms up to three times the going world rate for their sugar," reports the Guardian.