The European Union's executive has proposed allowing exports of 700,000 tonnes of "out-of-quota" sugar from December 1, and the sale of 400,000 tonnes of out-of-quota sugar for food use within the EU at a reduced levy, documents seen by Reuters showed. The European Commission has also proposed opening a tendering system for sugar imports from all non-EU countries at reduced duties, the documents showed. It would run from December until July 11, 2012.
The proposals are designed to help EU refiners who have struggled to secure imports of raw cane sugar due to high world prices, and also provide an outlet for EU beet sugar produced in excess of national quotas, with a bumper crop forecast for this year. EU government officials could vote on the proposals at a meeting of the bloc's sugar management committee in Brussels on Thursday, a draft agenda for the meeting showed, though sources close to the committee said the vote could be delayed until a future meeting.
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