On August 26, 2009
Wide Range of Opinions on Sugar ‘Crisis’
Who should we believe on sugar? On one side, we have sugar buyers like General Mills, Mars and Hershey warning that we could “virtually run out of sugar” if we don’t change our sugar policy aimed to restrict imports. On the other side, we have sugar growers assuring us everything is fine and talking as if we have more sugar than we know what to do with. Of course, these parties are just fighting for their own interests — growers benefit from our protectionist policies that keep sugar prices artificially high, while buyers would benefit from a larger supply. So what is the reality? Well, we’re not going to run out of sugar. Sugar’s stocks-to-use ratio is forecast to be…
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