The EU’s quota management comes to an end on 30th September, 2017, and along with it, an expected fall in the international sugar price, and a decrease in sugar imports from the ACP, with particular impact on Caribbean producers.
“With our exports still focused on EU markets, the Caribbean sugar industry faces a period of instability and change, and must urgently adapt in order to meet the challenge of competing with other sugar producing nations worldwide which have lower production costs or in a global market heavily distorted by trade barriers and government support.
The prospect of the exit of the United Kingdom from the EU further adds to the uncertainty ahead,” Karl James, Chairman of the Sugar Association of the Caribbean (SAC) was quoted as saying, in a joint press release from SAC and the Caribbean Council.
According to the media bulletin, SAC has convened, a meeting of industry leaders to look at the future of sugar in the Caribbean, with the advice and support of the London-based Caribbean Council, the Caricom Secretariat and JAMPRO, an agency of the Government of Jamaica’s Ministry of Economic Growth and Job Creation.
The two-day regional workshop has been funded by the EU, UK Foreign and Commonwealth Office, ASR group, and the Inter-American Development Bank and will take place at JAMPRO offices, in Kingston, Jamaica on 23-24th March.
The press release said that the workshop will bring together industry leaders and policy makers to inform and facilitate an in-depth discussion of how the Caribbean sugar industry now needs to adapt to the new market realities and the policy options which are available to both industry and regional governments.
The press statement noted that the recommendations of the industry workshop will be presented to the Sixth Meeting of Caricom Stakeholders on Sugar, which will be convened by the Caricom Secretariat and take place on the 24th March, immediately after the workshop.
