The European sugar market observatory got down to work on Tuesday 11 July with the aim of helping the sector “better respond to market volatility by means of analyses and information on market trends”, said the European Commission in a press release.
Sugar production quotas will be abolished at the end of September of this year. Given this, the daily activities of the observatory and its six-monthly meetings will be particularly useful. Tuesday’s meeting, which was chaired by the Commission, brought together representatives of 14 sugar supply and distribution chain organisations: beet producers, sugar producers, refiners, importers, buyers, dealers, ethanol and starch producers.
The sugar market observatory seeks to increase transparency in the sector by sharing economic data and short-term analyses.
A cereals market observatory will also be launched shortly. (Original version in French by Lionel Changeur)