Home / Agriculture/ World sugar exporters prep review of India, EU, Pakistan support programs

World sugar exporters prep review of India, EU, Pakistan support programs


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 15 May 2018 00:00


 

NEW YORK (Reuters): The world’s top sugar exporters have initiated a legal review of government supports in the European Union, India and Pakistan that may violate World Trade Organisation restrictions on direct subsidies, according to an industry executive.

The Global Sugar Alliance launched an investigation this year into whether the EU, India and Pakistan are in violation of WTO rules, with plans to conclude by July, the group’s secretary, Warren Males, told Reuters along the sidelines of New York “Sugar Week.” The group represents top exporting nations, including Brazil, Australia and Thailand.

Members of the Global Sugar Alliance met during the annual industry conference in New York, with plans to reconvene after finishing the review, Males said. The group will discuss next steps, with plans to ask their governments to either step up talks with counterparts in the EU, India and Pakistan or to take action with the WTO, he said.

“We had been weighing this for some time, (but) the issue became more pressing,” said Males, who is also the head of economics at Australia’s Canegrowers trade group.

Raw sugar prices traded in New York are languishing near 2015 lows as global supplies swell, outstripping production at record levels. That has the world’s millers and refiners churning out sugar for prices below production costs.

 


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Unless addressed, wages issue will keep troubling Bangladesh’s garment industry

Saturday, 19 January 2019

The recent week-long mass protests by garment workers in Bangladesh came to an end after an upward revision of wages for six classes of workers. But even after the upward revision, the Bangladeshi garment worker gets less than what workers in compara


Is GDP the ideal metric of the future?

Friday, 18 January 2019

In an age of stark contradictions, we live in a world where the exclusive 1% enjoy access to an abundance of wealth and resources but also a world where a billion people scarcely have enough to eat and have limited access to health and education. Whi


Evaluation of economic performance: 4 years into Yahapalana Government

Friday, 18 January 2019

The Yahapalana Government completed four years on 8 January this year. The four-year journey was a rough ride with a clear rift between the President and the UNP; the ruling party. The Government continues to face severe criticism from both inside an


Elimination of bribery and corruption

Friday, 18 January 2019

Bribery and corruption can be regarded as a malicious cancer that has penetrated into almost every strata of Sri Lankan state. It can be considered a major factor affecting Sri Lanka’s poverty, backwardness and indebtedness. Abuse of power by thos


Columnists More