South Africa will raise the benchmark price used to calculate import tariffs on sugar. This move has long been called for by domestic producers such as the local subsidiary of the British United Foods Company. The reference price for sugar in US dollars will be raised from $680 to $785 per ton. When international prices fall below this benchmark, protection for local producers will be strengthened. The South African Sugar Association welcomed the adjustment, but warned that it might not be enough to protect local producers from import shocks from subsidized countries such as Brazil.
Zhitongcaijing · 1d ago
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South Africa will raise the benchmark price used to calculate import tariffs on sugar. This move has long been called for by domestic producers such as the local subsidiary of the British United Foods Company. The reference price for sugar in US dollars will be raised from $680 to $785 per ton. When international prices fall below this benchmark, protection for local producers will be strengthened. The South African Sugar Association welcomed the adjustment, but warned that it might not be enough to protect local producers from import shocks from subsidized countries such as Brazil.
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