European companies have to decrease their sugar output with 1.14 millio tons

By: trademagazin Date: 2008. 02. 28. 00:00

If they fail to make satisfactory cutbacks, companies risk a final cut with no compensation being imposed on them.

Until now, 4.8m tonnes have been
renounced within the restructuring scheme, which was introduced in
Europe in 2006 to improve competitiveness and market orientation of
the EU sugar sector and to guarantee its long term future.
The
goal is to reduce the volume of sugar on the market by 6m tonnes by
2010, with exports limited to 1.374m tonnes and imports increased
substantially.
In the first two years, 2.2m tonnes were renounced.
For 2008 to 2009, the first step of renunciation equals 2.5m tonnes,
while the amount for 2009 to 2010 currently stands at 0.1m.