Sweet News for Sugar Industry

In July of this year it was announced that the purchase price of sugar by EU countries would be cut down by 33% over the next three years. That was devastating news for Belize because our preferential markets are being eroded and when this happens, there is no way our sugar can compete with larger sugar producers like Brazil. But that was in July and now the ACP countries which Belize is a part of has launched lobbies with the European governments as well as the European Commission. It seems that it is paying off, because at a meeting of EU Ministers of Agriculture held on Monday and Tuesday in Brussels, the proposed reforms of the sugar market were discussed. The end result is that the implementation date of June 2005 for the new regime has been delayed. There is no indication until when but the EU nations are committed to explore further contacts with ACP countries to clarify WTO issues.