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EU to Import 64,364 Tons of Sugar at Reduced Duty in Tender

July 14 (Bloomberg) -- The European Union will import 64,364 metric tons of sugar at a reduced duty rate under the first of five planned tenders to alleviate tight supplies, according to the European Commission, the EU’s regulatory arm.

The bloc backed a proposal in May to import the sweetener at a reduced rate and authorized duty-free imports of 200,000 tons of sugar to ease supplies in the region. The EU allowed 300,000 tons of imports at zero duty earlier this year, bringing the total to 500,000 tons.

Raw sugar imports under the first tender will total 56,644 tons, while white sugar will account for 7,700 tons, and an additional 20 tons will be composed of “other sugars,” the commission said in an e-mailed statement.

The lowest duty to be paid will be 131.11 euros ($185.77) a ton, on 55,000 tons of raw-sugar for refining, while the highest will be 217 euros a ton on the 7,700 tons of white sugar, it said.

The decision will be published in the Official Journal tomorrow. The next tender will be decided on July 28.

To contact the reporter on this story: Isis Almeida in London at ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.ne

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