ACP sugar prices may exceed
Friday, 11 September 2009
LONDON, Sept. 10 (Bloomberg): Sugar exporters in some African, Caribbean and Pacific nations may get higher prices at home than under preferential sales to the European Union, said Patrick Gomes, Guyana's ambassador to Brussels.
ACP sugar exporters will get no less than 335.20 euros ($480.59) a metric ton from Oct. 1, down 25 percent from a year earlier. Raw sugar climbed 92 percent this year in New York trading, reaching the equivalent of $548 a ton on Sept. 1.
"Some countries may find it that the price locally would be much higher than what would be obtained by exporting," Gomes, who represents the ACP group's sugar consultative group, said in an interview at a sugar conference in Cape Town on Sept. 8. "We have to be concerned about the price."
ACP nations have the potential to increase exports to the EU by about 1 million tons, Gomes said.
Developing countries have preferential access to the EU because they don't have to pay import tariffs and from 2015 won't be limited on the amount of shipments, according to the International Sugar Organization.
The value of shipments to the EU from developing countries is expected to be about 1 billion euros by the crop season starting in October 2014, up 25 percent from the 2005/2006 season, said Sergey Gudoshnikov, an economist at the International Sugar Organization in London. That assumes the exporters increase shipments to 3.4 million tons from 1.9 million in 2008/2009, he said.
ACP sugar exporters will get no less than 335.20 euros ($480.59) a metric ton from Oct. 1, down 25 percent from a year earlier. Raw sugar climbed 92 percent this year in New York trading, reaching the equivalent of $548 a ton on Sept. 1.
"Some countries may find it that the price locally would be much higher than what would be obtained by exporting," Gomes, who represents the ACP group's sugar consultative group, said in an interview at a sugar conference in Cape Town on Sept. 8. "We have to be concerned about the price."
ACP nations have the potential to increase exports to the EU by about 1 million tons, Gomes said.
Developing countries have preferential access to the EU because they don't have to pay import tariffs and from 2015 won't be limited on the amount of shipments, according to the International Sugar Organization.
The value of shipments to the EU from developing countries is expected to be about 1 billion euros by the crop season starting in October 2014, up 25 percent from the 2005/2006 season, said Sergey Gudoshnikov, an economist at the International Sugar Organization in London. That assumes the exporters increase shipments to 3.4 million tons from 1.9 million in 2008/2009, he said.