Sugar Alliance wants to bring Pakistan and India to WTO court

An alliance of sugar merchants, the Global Sugar Alliance, calls for a reform of the sugar trade in the world. The countries of India, Pakistan and the European Union are to reduce their subsidies, because they are responsible for the fact that there is always a surplus of sugar and prices are under pressure.
Production costs can not be recouped at the current sugar price level, Australia-based group chairman Greg Beashel said in a press release.
The futures contracts "Sugar No.11" (raw sugar) on the New York Stock Exchange ICE Nybot are currently nearing their 2½-year low. The global supply is far too large and the Brazilian currency has lost purchasing power against the US dollar.
At a meeting in Geneva, experts discuss decrees in Pakistan and India that are not in line with WTO trading conditions. There should be no exports of subsidized sugar. It is considered bringing Pakistan and India to a WTO court.
Text: HANSA Derivatives Trading GmbH /

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