U.S. sugar quota remains unchanged for coming year

Most of the news coming out of the sugar industry these days has not been encouraging, but today at least there were some signs that things are not getting any worse. The U.S. Embassy has announced that Belize’s allocation under the 2002-2003 tariff rate quota will remain unchanged. That means that over the next twelve months Belize will be able to sell eleven thousand, five hundred and eighty-three metric tons of sugar to United States buyers at a subsidized price significantly higher than that prevailing on the world market. This quantity, which amounts to around ten percent of Belize’s sugar exports, is in addition to the much larger quota held by Belize under arrangements with the European Union.