Link.pdf

048final-20-CIBECEFSEFFAT-jointLetter-Covid-19.pdf
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🔗 Source: cibe-europe.eu
📊 Size: 183 KB
👤 Author: Agnese Litti
⬇️ Downloads: 46

Summary

The European beet sugar sector is facing a highly worrying situation due to the COVID-19 pandemic. Despite the crisis, sugar beet growers and manufacturers continue to work to ensure food security, and the sector is shifting its ethanol production to pharma-grade ethanol. The sector is concerned about the rapid evolution of sugar markets, with a strong bearish market sentiment triggering a severe drop in commodity prices, putting pressure on the EU sugar sector. The world raw sugar price has dropped by over 25% since mid-February, and the depreciation of the Brazilian real is encouraging Brazil to increase sugar production, further pressuring the world price. The EU sugar market is linked to the world market, and lower world prices will put pressure on the EU market, translating into lower sugar and sugar beet prices. The sector is calling for exceptional measures, including safety nets and import safeguards, to minimize the impact of COVID-19 and preserve 360,000 jobs associated with European sugar production.

Description

The European beet sugar sector is facing a highly worrying situation due to the COVID-19 pandemic.

Technical Information

  • File Format: PDF
  • File Size: 183 KB
  • Pages: 3
  • Language: EN
  • Author: Agnese Litti
  • Total Downloads: 46
  • Last Updated: 1 month ago

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