Latin America's Sugar Producers Sweat the Sweet Stuff
MIN READDec 12, 2017 | 08:00 GMT
The world's major sugar producers recently got a bitter surprise. In October, the European Union lifted restrictions on its sugar production that had been in place to keep prices stable since 1968. The European Commission estimates that the bloc's annual sugar imports will fall from 3 million metric tons (3.3 million tons) to 1.8 million metric tons by 2025. European sugar exports, meanwhile, will nearly double from 1.3 million metric tons per year, where they have been capped for half a century. The end of the EU production quota, coupled with the bloc's enduring tariffs on imported sugar, will force traditional sugar exporters in Latin America and the Caribbean to look for ways to deal with the heightened competition....