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September 20, 2005

ACP Nations May Not Get Sweet Deal on Sugar Prices

Prensa Latina, the Latin American News Agency, reported September 17, 2005, that, the 18-member African, Caribbean, Pacific group (ACP) of sugar producing countries

could see their sugar export earnings fall by as much as 400 million euros a year and receive only 40 million euros as compensation for their losses, once the EU (European Union) applies its plan to reduce sugar minimum prices and production by around 40 per cent.
"The former European colonies have warned that the EU plans to modify the sugar and banana regimes will mean a catastrophe for their peoples and economies," Prensa Latina said.

Talks between the ACP and the EU got underway September 19, 2005 in Brussels, Belgium.

Posted by Munir Umrani at September 20, 2005 05:10 AM

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