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Article: E.U. to Cut Support For Sugar Prices by 36%; Deal Comes in Response to WTO Court Ruling
- Article from:
- The Washington Post
- Article date:
- November 25, 2005
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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BRUSSELS -- The European Union will cut sugar price supports 36
percent in a deal demanded by a World Trade Organization court
ruling.
The agreement among E.U. countries is intended to drive down
European sugar production by more than a third and transform the
federation from a net sugar exporter to an importer, and may end the
small sugar industries of two countries, Ireland and Finland. It will
still leave the set European price at twice the world market price,
down from triple that price today, and compensate producers for the
income they lose.
The European Union is under worldwide pressure to reduce its
agriculture subsidies, which are widely blamed for contributing to a
collapse in ...