Friday February 26, 2010

Users Demand Sugar Increase

Washington, D.C. — The Sugar Policy Alliance has called on Congress to ease sugar import quotas, citing price inflation and reduced availability.

The Alliance, which includes The Hershey Co., Kraft Foods, Inc. and others, wrote a letter to members of Congress as world sugar prices hit a 27-year high.

Chairman of the Alliance, and NCA President, Larry Graham said: “Sugar prices are now higher than they were in the aftermath of Hurricane Katrina, which closed two Gulf Coast sugar refineries and created major disruption in the industry. Yet USDA has not recognized the seriousness of the situation and has made no move to increase import quotas.”

USDA data shows sugar prices were at 33.32 cents per pound in January this year, compared to 15.67 cents during the same month in 2009.