The European Union, the world’s largest grower of sugar beets, wants to abolish limits on domestic sugar production in 2015.
Sugar quotas should expire on 30 September, 2015, the European Commission, the EU’s regulatory arm, said. At the moment, the quotas cap how much sugar can be produced for the EU’s domestic market.
The European Commission (EC) is set to introduce plans to reform the European Union (EU) sugar regime in mid-October, according to industry sources. The plans are thought to contain proposals to abolish beet sugar production quotas. British sugar prices rocketed by 60% to reach €880/tonne this year, compared with €500 – 550/tonne a year ago. Industry participants are calling for the EU to either increase quotas or to allow food manufacturers to import sugar tariff-free from the world market.
Food scientists have made a fundamental insight about sugar that could lead to a better-tasting caramel in your favourite candy bar.
Casting doubt on the long-prescribed belief sugar melts, new research published in the Journal of Agricultural and Food Chemistry shows that sugars such as sucrose decompose as they become liquid.
European yeast producers have attacked EU Commission sugar policies, warning that they could inflate costs and put the industry at risk.
Prolonged drought in northern Europe has already capped yields of cereals and sugar beet and, without significant rainfall over the next two months, could significantly boost prices, warn analysts.
A European Commission initiative to release 500,000 tonnes of out of quota sugar onto the EU market has been backed by member states in the EU sugar management committee today.
Current uncertainty suggests further price gains are likely in wheat over the coming months with EU prices expected to set record highs prior to the new crop harvest, predicts agri commodity specialists Rabobank, who foresee a downward movement on sugar prices.
The European Commission, in a policy about face, said it may open the import quota or allow the sale of out-of-quota sugar into the bloc – a move that would bring relief for bakers and other food makers set to negotiate new sugar contracts.