German confectionery and bakery producers have strongly criticised
the current EU system designed to keep sugar prices artificially
high, arguing that it makes European companies uncompetitive when
it comes to exports.
The EU has asked the Ivory Coast, to abolish a law that requires
all cocoa beans to be exported in jute bags. This would mean cocoa
could only be exported in 60 kg or 65 kg bags rather than in bulk.
The Ghana Cocoa Board (GCB) has secured a US$650 million loan to
purchase cocoa for the 2003/2004 cocoa season. The
facility,repayable within a year, was arranged by four leading
banks.
Imminent reforms to the EU sugar regime could slice millions off
the sugar profits for Associated British Foods (ABF), the owner of
British Sugar, and Danisco.
US department of agriculture sugar-market economist John Love has
predicted that producer prices for sugar for 2002/03 will be 5 per
cent higher than last year's.
British Sugar and the NFU have agreed the provisional factory
opening dates for this year's sugar harvest. Newark factory will
open on 12 September with the remaining five factories opening on
16 September.
Vietnam's burgeoning cocoa industry received a significant boost
last week after the US government confirmed it would provide $4
million (€3.4m) in development aid.
Vietnam is halfway through its target of planting 500 hectares of
cocoa this year. The country, famed for its quality coffee
production, wants to become less reliant on one single cash crop.
Replacing dietary fat with a higher intake of carbohydrates,
including sugar, can have a positive effect on weight control in
overweight individuals, according to a study sponsored by the
European Commission and EU sugar industries...
A federal government bail-out of the Australian sugar industry was
under threat on Tuesday after business and opposition groups, in
particular food manufacturers, objected to a three cent a kilogram
levy to fund the $120 million plan...
