When global sugar prices began tanking more than three years ago, analysts predicted that worldwide production would fall and prices would quickly rebound. But the opposite occurred with prices recently dipping to the lowest point since 2008, and most observers now expect the slide to continue.
Jack Roney, an economist with the American Sugar Alliance, says times are sweet for the candy industry right now. In remarks today at the 32nd International Sweetener Symposium, Roney explained that while jobs in other food manufacturing sectors have declined, employment has risen for companies that produce sugar containing products, or SCPs.
The European Union is in the midst of overhauling its sugar program, and when the transition is complete, sugar producers will receive $665 million a year in subsidy checks. That’s according to a new paper about announced policy reforms by Patrick Chatenay, a sugar policy expert from the UK-based company ProSunergy.