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FOREIGN AGRICULTURAL SERVICE
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Sugar Annual Report 2008 (April 2008)
The reformed sugar regime which came into effect
on July 1, 2006 results in a cut in sugar prices by 36 percent over four years
with a voluntary restructuring scheme aimed at reducing production by 6 million
MT over that period. Withdrawals to date amount to 4.84 million MT. Total sugar
production is forecast to fall by 5.2 percent in MY 2008/09. Imports are
expected to decline by 8.1 percent with exports remaining stable at the WTO
agreed level of 1.3 million MT. Human consumption should remain stable in MY
2008/09 and other consumption including bioethanol is expected to reach 1.8
million MT.
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