Sugar: After Win Against EU, Brazil Has Big Plans

    The European Union (EU) will have to reduce its subsidies to sugar exporters. This was the decision of the Appellate Body of the World Trade Organization (WTO), which ruled in favor of an appeal filed by the Brazilian government.

    No further appeals are permitted. The decision was announced by the general coordinator of Litigation in the Brazilian Ministry of Foreign Relations, Minister Roberto Carvalho de Azevedo.


    According to Azevedo, Brazil was pleased with the result. “It is of utmost importance, because the market itself has already begun to react in line with expectations that there will be changes in terms of a greater opening of the international sugar market.”


    The Brazilian government has been discussing the reduction of EU subsidies in the WTO for more than two years. An agricultural agreement limited subsidized exports of European sugar to 1,273,500 tons, the equivalent of € 499.1 million per year.


    Brazil argued in the Appellate Body that there were years when the EU subsized over 5 million tons of sugar, exceeding the limit stipulated in the agreement.


    “These commitments have been in effect since January 1, 1995. Brazil is asking for nothing more than compliance with what had already been agreed to,” Azevedo affirmed.


    The decision to lower EU sugar export subsidies is expected to open a market worth US$ 1.2 billion annually to competitive producers on the international market.


    Of this total, Brazil expects to capture up to US$ 700 million. According to data from the Ministry, Brazil exported 13.4 million tons of sugar in 2003.


    Agência Brasil

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Latam’s Main Furniture Fair Opens in Brazil

    Thirty foreign buyers from Latin America, Europe and the Middle East are participating in ...

    Albino alligator

    Brazilian Police After Thieves of Rare Albino Alligators

    Brazil's federal police are investigating the disappearance of seven albino alligators from the UFMT ...

    Is Brazil’s Seleçí£o Becoming Complacent?

    There are confident supporters of Brazil, who rationalize that Brazil has yet to play ...

    Up and Coming

    Yes, there are prosperous and even rich Brazilian blacks. And they are not just ...

    Blue, Beige and Pink Sheep Grazing on the Fields of Brazil

    The unaware traveller may be surprised with the colors in the fields of Ipê ...

    The Dream Is Dead. Most Brazilians No Longer Trust Lula.

    Most Brazilians (52%) no longer trust their President Luiz Inácio Lula da Silva. A ...

    WSF in Porto Alegre

    Palestine Should Be Main Focus of Brazil’s World Social Forum

    Politicians, intellectuals, organizations, unions and associations from Brazil and abroad are going to debate ...

    A jacket made by Brazil's Recicla Jeans program

    Favela Fashion Brings Pride and Jobs to Brazilian Slum

    Residents of Paraisópolis (Paradise City), the second largest favela (shantytown) in the city of ...

    More Than Jobim’s Alter Ego

    Newton Mendonça and Tom Jobim met in 1942, when they were fifteen, and became ...

    Brazilian-Argentinean Team Find Oldest Snake Ever

    A fossil find in Argentina and studied by a Brazilian-Argentinean team of scientists has ...