Women
Partner Channels: Auctions | Auto | Bill Pay | Jobs | Lifestyle | TechJobs | Technology | Travel
March 22, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Chat | Contests | E-cards | Money | Movies | Romance | Search | Weather | Wedding Women Partner Channels: Auctions | Auto | Bill Pay | Jobs | Lifestyle | TechJobs | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report March 22, 2001 |
Feedback
|
|
|
EC policy to hit Indian sugar exports: FicciBS Commodities Bureau 'Everything But Arms' proposal adopted by the European Commission (EC) for 48 least developed countries (LDC), especially African, Caribbean and Pacific (ACP), would hit Indian sugar exports hard since the benefit provided to the LDCs would be at the cost of the Indian market, a study undertaken by the Federation of Indian Chambers of Commerce and Industry (Ficci) said. On October 5, 2000, the European Commission adopted a proposal to grant duty-free access to the world's 48 poorest countries, 39 of which are in the ACP group to cover all goods except arms. For three products (bananas, sugar and rice), however, implementation will take effect in three progressive stages to be completed over three years. This proposal would largely affect sugar exports from India as the quotas allocated for the commodity have no relationship to the actual production or export potential of these countries, the Ficci study titled 'EU's everything but arms proposal for LDC's - likely impact for India's sugar industry' said. Out of the total quota of 1.3 million tonne, substantial amounts have been allocated to Mauritius, Fiji and Guyana. On the other hand, India was accorded only 2000 tonne for the period from 1995 to 2000," it said. As against the annual average consumption of 3.7 million tonne of sugar, LDC's produce some 2.1 million tonne, while India is the second largest producer of sugar with massive stock holdings and progressively higher export to free market destinations, the study said. It added, owing to the attractive difference in the world market prices and the EC, countries like Zambia and Sudan have already become net exporters of the commodity. While the world prices for sugar stands at 250-300 euro per tonne, it is 650 euro per tonne in the European Commission. "It would mean a strong economic incentive for LDC's producers to export sugar to EU markets whereas India would not be able to enjoy this benefit of opening in the European market," the study added.
Powered by ALSO READ:
|
||||
