EU’s sugar subsidy remains contentious issue

EU’s sugar subsidy remains contentious issue – GuySuCo

Jun 10, 2008 News

As the fallout from the negotiated Economic Partnership Agreements (EPA) with the European Union continues, the Guyana Sugar Corporation (GuySuCo) yesterday said that it is seeking to clarify a recent press statement.
The Corporation is referring to a release of the Board of Directors of the Sugar Association of the Caribbean (SAC) arising from its 149th Meeting in Barbados on May 28-29 last.
“The Directors’ satisfaction on the provisions for sugar was specific to the reallocation of shortfalls of undelivered quantities from its members amongst other Cariforum States party to the Sugar Protocol, together with an additional 30,000 tonnes, which will provide additional access quantities between now and when the Sugar Protocol ends in September 2009.”
According to GuySuCo, the declaration by the Government of Trinidad and Tobago that it will not be producing a sugar crop in 2008, as well as a shortfall by Barbados of close to 4,000 tonnes, has provided some 51,000 tonnes of sugar for reallocation between Guyana, Belize and Jamaica.
“Should Trinidad and Tobago not produce a crop again next year, a further 43,000 tonnes will be available for reallocation. It was also noted that the Duty Free Quota Free (DFQF) access after 2009 will provide opportunities for increased access over SAC’s minimum access quantity, which currently is around 440,000 tonnes.”
The Corporation stressed that the EPA provisions are distinct from the Reform of the Sugar Regime, which was finalized in November 2005 and which dealt the severe blow of a 37 per cent price cut by October 2009 which, in the case of Guyana, means a loss in revenue of US$37M, or $8Bln. annually.
“The SAC has vehemently objected to these too soon, too sharp and too deep cuts and has strongly protested the EU’s unilateral denouncement of the Sugar Protocol. Further, the significant disparity in compensation provided to the EU sugar beet sector (€8Bln) in comparison with that which was allocated to the ACP sugar producers (€1.4Bln) remains a contentious issue.”
SAC last week said that Guyana and Jamaica led the region in sugar production last month.
According to the Sugar Association of the Caribbean, production of sugar by its four member countries in April was just over 78,400 tonnes.
Guyana, followed closely by Jamaica, was the lead producer with 25,686 tonnes and 24,818 tonnes respectively.
The other two members, Belize and Barbados, milled just under 15,000 and 13,000 tonnes respectively.
Trinidad and Tobago will not crush any cane for sugar production this year, so their quota has to be delivered by the other CARICOM producers.
The region has exported 340,000 tonnes since the beginning of the current crop in July 2007, with Guyana and Jamaica accounting for the bulk of production.
Belize and Guyana supplied the CARICOM market with 2,388 tonnes of sugar during the month.
Meanwhile, the region’s sugar producers continue to benefit from the strong Euro, which is still maintaining value above the US$1.50 mark.
The region is, however, experiencing unusually heavy showers at this time, causing deterioration in the cane quality and delay in reaping and delivery.

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EU’s sugar subsidy remains contentious issue – GuySuCo

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