03.09.2013 - US struggles with sugar surplus
The US government is struggling to shore up the domestic sugar market as it tries to stave off federal loan defaults by sugar processors for the first time in nine years. Strong domestic production, a surge in imports from Mexico as well as weak international prices have weighed on the US sugar market this year. In its third intervention in the domestic market this year, the US Department of Agriculture last week said it bought sugar from a domestic processor and sold it to an ethanol producer at a loss of almost $3m...............................................Full Article: Source
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