Europe will run out of sugar until autumn

The European Union allowed the extra import of half a million tonnes of sugar from the developing countries, above the usual quota. In addition duty-free import quotas were determined for 300 thousand tons of white sugar. Stocks will run out of sugar until autumn in the EU.

Exceptional situation occurred in the world sugar market. The prices increased above the maximums determined by the EU. Maximums are: white sugar 404.00 euros / tonne, raw sugar 335.20 euros per tonne. Therefore, and because of the impact of speculation, the European Commission considered that the stocks of the member states will not suffice to cover the residential and industrial needs – reports szabadfold.hu.