Agricultural Markets at the Turn of 2001/2002: (3) SugarEstimated world sugar supply and demand remained uncertain in 2001 but finally depressed import requirements carried the day and sent prices down to 6.5 cts/lb in October (as against 10 cts/lb around March). Precautionary quota management caused the beet growers associations all over the EU to issue recommendations not to over plant quotas. The reason was that the Commission had unveiled plans to abolish the established storage levy/reimbursement system. Furthermore, a new CMO of sugar was approved by the Council without major changes except for fixing a five years term instead of the proposed two.
