The European Union is planning to push more than 2 million tons of surplus sugar on to the world market in spite of a World Trade Organization ruling that such exports are illegal, reports the World Bank press review Monday.
The proposal, which is likely to draw a strong rebuke from other sugar- producing countries, would sell sugar from the EUs internal stocks abroad to prevent domestic oversupply. The European Commission will make its recommendation this week.
According to officials, it is likely to involve 2 million to 2,5 million tons of sugar, compared with annual EU production of about 17 million tons. The proposal, set to be agreed this month, will go to representatives of the member states soon.
Kilde: www.worldbank.org
