USDA Increases Sugar Import Quota

USDA announced that it will raise "its raw-sugar import quota by 300,000 short tons, the second increase this year, to relieve a shortage of the domestic sweetener" as reported in Business Week.

In April of this year, USDA "boosted the quota by 16 percent to 1.471 million short tons after retail prices surged to a record" amount.

Overseas "producers will be allowed to ship 1.731 million short tons (1.571 million metric tons) of sugar to the U.S. in the year ending Sept. 30" according to a USDA statement.  USDA continued, stating that "[a]dditional supplies of raw cane sugar are required in the U.S. market" and they will "closely monitor stocks, consumption, imports, and all sugar market variables."

The notice will be placed in the Federal Register on July 6, 2010.

To read the Business Week story, click here.

Posted: 07/05/2010