P. M. BRIEFING : U.S., Citing Market Tightness, Hikes Import Quota for Sugar
The United States will allow a 13.5% increase in the amount of raw sugar that can be imported from 39 countries in 1990, the Agriculture Department announced today.
“This change in the level of the quota is necessary to alleviate a tightness in our sugar market caused by unexpectedly low-ending stocks and a production shortfall,” said Agriculture Secretary Clayton K. Yeutter.
The new import quota takes effect Monday for the period that runs from Jan. 1, 1989, through Sept. 30, 1990. The quota was set at 2.26 million metric tons raw value, up from 1.99 million metric tons for 1989.
The quota for Panama, 30,798 metric tons, was suspended, as was its previous allocation, because of an export financing bill passed by Congress earlier this year. Panama’s 1989 quota was reallocated to other countries on Sept. 12.
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