Dec. 15 (Bloomberg) -- European sugar refiners have paid an additional 35 million euros in seven days to import raw sugar because of the European Union’s auction process.
“Our industry has been forced to pay nearly 35 million euros in the last seven days alone to get its hands on raw material supply that its refineries and the market desperately need,” Joao Pereira, president of the European Sugar Refiners Association, said in a statement e-mailed today. “Our industry is running at 60 percent capacity and this is just not sustainable.”
The EU’s sugar management committee today granted licenses to import 36,000 metric tons of raw sugar from cane for refining at a duty of 263.50 euros a ton, the European Commission, the EU’s regulatory arm, said in a statement today.
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