The US May Rectify High, Quota Induced, Sugar Prices
The Department of Agriculture is under pressure from confectioners and other sugar users to rectify the gap between Global sugar prices and US sugar prices. On average American companies pay 78% higher prices for sugar because of a Department of Agriculture imposed import quota of 1.3 million metric tons. The Department of Agriculture should decide in April, 2010 if they will give in to the user’s demands and raise the quota amounts or continue to protect American sugar producers from Global Competition. We will keep you posted as the issue and decision unfolds.