EU Hopes To Boost '11-'12 Sugar Output With Import-Export Moves

(YTWHW.com) - The European Union Friday moved to balance the domestic sugar market through the adoption of 650,000 metric tons of non-quota exports to 400,000 tonnes of imports of industrial products for next season.
The committee of the EU sugar management voted to allow exports of January 1, 2012, the EU's executive arm, said, hoping that will increase domestic production in the year 2011-12.
"With these measures, the operators of sugar received a strong signal that is attractive to grow and produce sugar," the Commission said in a statement.
Out of quota sugar referred to fixed amounts that exceed national production quotas. This sugar can only be exported or sold in the domestic market with the specific prior approval of the EU.
Other 400. 000 tonnes of sugar has also been approved for importation into the next season, which begins October 1, 2011, in order to reduce the domestic prices of distressed industrial users, the Commission said.
"The Commission does not take into account the possible increase in these numbers until early 2012, where more accurate estimates of production and the available supply is known," he said.
The decision comes after the EU approved the additional imports beyond the quota sugar sales totaling 800,000 tons for 2010-11, in an attempt to alleviate the high prices and possible supply shortages in the market procedure.
The Commission said it remains vigilant with respect to prices this year and may increase the import quota later on this season and even in 2011-12 "if the same market conditions that arise during the next marketing year.

(Source: http://www.ytwhw.com/2011/0325/EU-Hopes-To-Boost-11-12-Sugar-Output-With-Import-Export-Moves.html)