Brussels, 11/04/2012 (Agence Europe) - This Thursday 12 April, the European Commission will present the management committee of the EU with measures to help the sugar sector. European prices have continued to rise and some member states have complained about poor availability of stocks. The Commission is therefore taking steps to restore fluidity to the market.
The management committee will vote on two types of measures on Thursday afternoon: (1) the possibility of releasing more of so-called “out of quota” sugar (reclassification of “out of quota” sugar into under-quota sugar) and the volume in this case is likely to be 250,000 tonnes; (2) the possibility of allowing further import tenders (or more specifically, presenting calls for import tenders already slated for 6 June, 27 June and 11 July.)
During the 2011/2012 marketing year, the Commission has already released 400,000 tonnes of out-of-quota sugar at a reduced duty level and imported 191,000 tonnes of raw sugar at reduced duty. (LC/transl.fl)