EU SUGAR EXPORT PLAN BREAKS WTO AGREEMENT, THAI CANE BOARD SAYS
02 febrero 2010
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Taken from Bloomberg.com
Feb. 2 (Bloomberg) - Brazil, Thailand, and Australia, the top sugar shippers, asked the European Union to withdraw a plan to increase exports because the volumes would exceed a limit agreed under the World Trade Organization, a Thai official said.
“We, as the three key sugar exporters, are affected by the EU plan and we think it’s not right,” Prasert Tapaneeyangkul, secretary-general of Thailand’s Office of the Cane and Sugar Board, said today by phone from Bangkok.
The European Commission has proposed allowing exports of an additional 500,000 metric tons of sugar above the 27-nation bloc’s quota for the 2009-10 marketing year ending in July as a “temporary” measure in response to surging world prices, according to a statement by the commission on Jan. 27.
Raw sugar for March delivery fell 2.1 percent to 29.28 cents a pound on ICE Futures U.S. in New York yesterday, after earlier climbing to 30.4 cents, the highest since January 1981.
The Cane and Sugar Board would talk with Thailand’s Commerce Ministry to consider other action if the European Union rejected the protest by the three countries, Prasert said.
The WTO in 2005 limited EU exports of subsidized sugar to 1.37 million tons after a complaint by Brazil, Australia and Thailand.
Feb. 2 (Bloomberg) - Brazil, Thailand, and Australia, the top sugar shippers, asked the European Union to withdraw a plan to increase exports because the volumes would exceed a limit agreed under the World Trade Organization, a Thai official said.
“We, as the three key sugar exporters, are affected by the EU plan and we think it’s not right,” Prasert Tapaneeyangkul, secretary-general of Thailand’s Office of the Cane and Sugar Board, said today by phone from Bangkok.
The European Commission has proposed allowing exports of an additional 500,000 metric tons of sugar above the 27-nation bloc’s quota for the 2009-10 marketing year ending in July as a “temporary” measure in response to surging world prices, according to a statement by the commission on Jan. 27.
Raw sugar for March delivery fell 2.1 percent to 29.28 cents a pound on ICE Futures U.S. in New York yesterday, after earlier climbing to 30.4 cents, the highest since January 1981.
The Cane and Sugar Board would talk with Thailand’s Commerce Ministry to consider other action if the European Union rejected the protest by the three countries, Prasert said.
The WTO in 2005 limited EU exports of subsidized sugar to 1.37 million tons after a complaint by Brazil, Australia and Thailand.
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