EU SUGAR QUOTA
October 1st, 2002
BY KEITH NUTHALL
THE EUROPEAN Commission has scaled down sugar production quotas for 2002-3 by 862,475 tonnes, (826,988 tonnes for white sugar, 17,173 tonnes isoglucose and 18,314 tonnes inulyn syrup), reducing them to 14,241,110, a cut of 5.71 per cent. The Commission said this was to meet WTO obligations limiting its export refunds to Euro 499.1 million; without the cut, exports would increase and refunds would exceed the limit, said Brussels.
THE EUROPEAN Commission has scaled down sugar production quotas for 2002-3 by 862,475 tonnes, (826,988 tonnes for white sugar, 17,173 tonnes isoglucose and 18,314 tonnes inulyn syrup), reducing them to 14,241,110, a cut of 5.71 per cent. The Commission said this was to meet WTO obligations limiting its export refunds to Euro 499.1 million; without the cut, exports would increase and refunds would exceed the limit, said Brussels.
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