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World sugar exporters ask India, Pakistan, EU to cut subsidies


(Reuters) - The world's top sugar exporters asked India, Pakistan and the European Union to eliminate subsidies, blaming such programs for weak prices and a supply glut, the Global Sugar Alliance for Sugar Trade Reform and Liberalization said on Thursday."Fueled by a glut of government-supported sugar from Pakistan, and the threat of subsidized Indian sugar exports, the world sugar price (ICE #11) has dropped to a level below the cost of production of even the most efficient producers in the world," Global Sugar Alliance Chairman Greg Beashel of Australia said in a release.Raw sugar futures ...

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First Published: Thu, July 19 2018. 23:52 IST