India is second only to Brazil when it comes to producing sugar. And following all of the sugar subsidy announcements coming out of the country this year has been akin to watching a yo-yo.
Mexico had agreed to redirect shipments of subsidized sugar to other countries instead of the United States. But it is doing the exact opposite of what it promised. Mexico is actually accelerating exports of subsidized sugar to the U.S. and further injuring U.S. sugar producers.
The damage caused by dumped and subsidized sugar imports from Mexico – including depressed domestic prices, lost revenue to U.S. producers, and approximately $260 million in taxpayer expenses – was detailed in a nearly 200-page government report issued on Monday.
We wanted to take a moment to thank the 32 members of the Appropriations Committee who stood with America’s sugar farmers. In particular, we wanted to spotlight the four appropriators who made impassioned speeches against Big Candy’s power grab.
“This action was expected and very much in order considering Mexico’s complicated web of sugar subsidies and the fact that Mexico’s government owns a large chunk of the industry,” said Phillip Hayes.
Why are Big Candy lobbyists continuously complaining about sugar farmers and crying poor on Capitol Hill? All the evidence suggests that Candy is King.