World Sugar Prices Hit Rock Bottom, Poised for Recovery
The world sugar market, which has been battered by low prices, may soon get a reprieve, according to the head of the International Sugar Organization. Jose Orive, the group’s executive director, addressed the International Sweetener Symposium today and said, “World sugar prices have hit bottom, and signs are pointing to a recovery.”
India Doubles Down on Trade-Distorting Export Subsidies
India has a massive sugar problem. It will have 17-million-metric-tons more sugar than what it consumes this year, according to a recent USDA report. USDA notes the 17 million tons is more than double India’s minimum annual stock requirements. And India’s sugar mills are finding it difficult to sell this surplus sugar at a profit.
European Union Serves as Warning to US Sugar Policy Critics
This week marks 13 years since the EU first began tearing down its sugar program after the World Trade Organization found it to be in violation of its international trade commitments. Since that time, Europe’s sugar industry has faced an uncertain future – 83 sugar mills closed and 120,000 jobs were lost – and subsidies remain prevalent as prices plummet below the cost of production.
New USDA Report Outlines India’s Sugar Subsidies
India’s latest export subsidy scheme blatantly flouts international trade rules, and it’s been receiving lots of attention lately. Australia, Brazil, and Guatemala have all recently initiated formal proceedings against India under the World Trade Organization’s (WTO) dispute settlement mechanism. Leaders from Alvean, the world’s biggest sugar trader, singled out Indian subsidies for suppressing global prices. And […]
Texas Tech Releases New Global Sugar Subsidy Guide
The U.S. sugar industry has publicly endorsed a concept introduced by Congressman Ted Yoho (R-FL), known as the Zero-for-Zero sugar policy, which would end America’s no-cost policy in exchange for other countries eliminating their trade-distorting programs and letting a true free market form.
Sugar Farmers Featured on New Farm Policy Facts Podcast
Farm Policy Facts debuted a new podcast called Groundwork yesterday, and two sugar farmers were the first guests on the show. John Snyder, of Wyoming, and Travis Medine, of Louisiana, discussed the importance of sugar farming in rural communities with Groundwork host Tom Sell.
Volatile Sugar Market Necessitates Strong Sugar Policy
As 2018 came to a close, the USDA published a report about the global sugar market. It noted that the world’s dominant sugar producer (and subsidizer) Brazil was decreasing production because of “unfavorable weather and more sugarcane being diverted towards ethanol,” where prices are stronger.
Don’t Let Critics Fool You, Sugar Policy Costs $0
Today might be April Fool’s Day, but it’s no joke that federal sugar policy once again cost taxpayers $0 last year. Even better, the USDA predicts sugar policy will continue to operate at zero cost for the next 10 years. That means that federal sugar policy cost taxpayers absolutely nothing in 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2014, 2015, 2016, 2017 and 2018.
Sugar’s Sweet Story – Farmers Share Importance of Sugar with Congress
Protecting a no-cost program that ensures a sustainable supply of sugar and supports 142,000 American jobs is a no-brainer. Thank you to the sugar farmers who recently made their voices heard by taking to the halls of Congress and educating lawmakers about the importance of U.S. sugar policy.
A Strong Sugar Policy Supports American Jobs
Fifty-seven sugar factories have closed since the 1980s due to low prices, contributing to the loss of 100,000 sugar jobs. In fact, the Labor Department’s Bureau of Labor Statistics stopped tracking “sugar manufacturing” as a job category in 2008 due to the industry’s shrinking size. Thankfully, there are still 142,000 hardworking men and women employed by sugar across 22 states.
Why Is Sugar Policy Important? Just Ask a Sugar Producer
For most of the farmers, it’s their first trip back to the Capitol since the Farm Bill was approved, and given the bill’s overwhelming support, there will be many members to thank. There will also be a lot of new members to educate about the importance of maintaining the no-cost sugar policy in the face of a struggling rural economy.
2018: Candy Manufacturers’ Expansions and Big News
From record product launches to multimillion-dollar expansions, what a sweet year it was for candy manufacturers. As consumers’ demand for candy products continues to surge, America’s confectioners are gladly taking advantage of this growing market. And America’s 142,000 sugar farmers and workers are thankful to be a part of their success story.
Big and Small Subsidies in Last Week’s News
The global sugar market remains in turmoil, plagued for years by a subsidy-fueled oversupply. And as foreign sugar businesses struggle to stay afloat, governments around the globe are taking action. Unfortunately for the market, the action being taken by most governments is to increase subsidies, which further depresses prices. Last week saw two governments – both big and small – intervene.
2018: A Year of Subsidies
Sugar is widely considered the world’s most distorted commodity market. Global sugar prices have fluctuated more than 200 percent since 2008 alone and often fall well below the cost of producing sugar. Why? Because of the actions of a few government-dependent producers….
Sugar Producers Praise Reintroduction of Zero-for-Zero Legislation
Members of the American Sugar Alliance (ASA) praised Congressman Ted Yoho (R-FL) for taking decisive action against foreign sugar subsidies with today’s reintroduction of the Zero-for-Zero sugar policy.
Top U.S. Trade Negotiator Joins American Sugar Alliance Staff
Brian Grunenfelder will work alongside veteran ASA Trade Adviser Don Phillips in helping analyze the complex global trade issues that impact U.S. sugar farmers and shape America’s no-cost sugar policy.