ID :
104904
Sat, 02/06/2010 - 13:16
Auther :
Shortlink :
http://m.oananews.org//node/104904
The shortlink copeid
3 major sugar producing countries monitor EU excess sugar sale, seek explanation
BANGKOK, Feb 6 (TNA) -- Three major sugar-exporting countries -- Brazil, Australia and Thailand -- are closely monitoring a plan by the European Union (EU) to release an added 500,000 tonnes of its export subsidy into the world market as it could affect prices, violate trade rules and lower their sugar export sugar volumes, Thai Deputy Commerce Minister Alongkorn Ponlaboot said Saturday.
Mr Alongkorn said at an unofficial meeting of trade representatives to the World Trade Organisation in Davos, Switzerland, last week that the three countries were concerned about the EU decision to increase its export subsidy of sugar by another 500,000 tonnes.
The Thai minister said the three countries await an explanation from the EU about its plan and if no clear explanation is forthcoming, they will meet again and ask the EU to compensate them under WTO rules.
The EU earlier proposed the release of the extra tonnes of sugar for export because of “exceptional market conditions.” European Agriculture Commissioner Mariann Fischer Boel said in a statement that the extra sugar released between now and July can be exported without violating the EU’s WTO subsidy commitments.
The European agency normally allowed exporting a maximum of 1.34 million tonnes of subsidised sugar.
EU subsidies allow manufacturers in member countries to market sugar at below global price levels, which has impacted other exporting countries. (TNA)
Mr Alongkorn said at an unofficial meeting of trade representatives to the World Trade Organisation in Davos, Switzerland, last week that the three countries were concerned about the EU decision to increase its export subsidy of sugar by another 500,000 tonnes.
The Thai minister said the three countries await an explanation from the EU about its plan and if no clear explanation is forthcoming, they will meet again and ask the EU to compensate them under WTO rules.
The EU earlier proposed the release of the extra tonnes of sugar for export because of “exceptional market conditions.” European Agriculture Commissioner Mariann Fischer Boel said in a statement that the extra sugar released between now and July can be exported without violating the EU’s WTO subsidy commitments.
The European agency normally allowed exporting a maximum of 1.34 million tonnes of subsidised sugar.
EU subsidies allow manufacturers in member countries to market sugar at below global price levels, which has impacted other exporting countries. (TNA)
