EU sugar stockpiling ridiculous - NFU

NFU Sugar board chairman William Martin today called on the European Union to alter its export policy rather than storing more than one million tonnes of sugar at a time when there was a world sugar deficit predicted.

Mr Martin said:"It is ridiculous for the EU to be stockpiling sugar at a time when the world market is so short. There was justified criticism two years ago of countries who stockpiled cereals when the world price increased dramatically and supplies were tight. Now is the time for the EU to play its part in ensuring the smooth operation of global food markets.

"UK sugar beet growers have produced what looks likely to be the highest yielding crop ever. It makes sense to use this additional production to help restore some balance to the world market."

Mr Martin was speaking after a meeting of the International Confederation of European Beet Growers (CIBE) said the European Commission was guilty of increasing the shortage of sugar on the world market.

It called on the Commission to request an immediate provision to export above the ceiling of 1.374 million tonnes set by the World Trade Organisation and urged the WTO to support such a decision and correct"this unjustified and inappropriate European sugar export policy".