Trans-Pacific Partnership ratification positive for sugar

Trans-Pacific Partnership opens new doors for Australian sugar

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MARKET GROWTH: The ratification of Trans-Pacific Partnership is positive news for sugar says the Australian Sugar Milling Council.

MARKET GROWTH: The ratification of Trans-Pacific Partnership is positive news for sugar says the Australian Sugar Milling Council.

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The ratification of Trans-Pacific Partnership is positive news for sugar says the Australian Sugar Milling Council.

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NEW export opportunities will be available for Australian raw sugar thanks to ratification of the Trans-Pacific Partnership says the Australian Sugar Milling Council.

The TPP-11 agreement improves the terms of access for Australian sugar into Japan, Mexico, Canada, Vietnam and Malaysia.

AMSC chief executive officer David Pietsch said importantly, the terms for sugar exports to Japan went beyond the gains achieved in the Japan-Australia bilateral Economic Partnership Agreement, which have lifted sales of high quality (pol) sugar to Japanese refineries since it came into force in January 2015.

Mr Pietsch thanked and congratulated the Australian negotiators and the Minister for Trade and Investment, Simon Birmingham.

“Delivery of this valuable trade deal required perseverance and bipartisan resolve and the sugar industry acknowledges the work of the previous Minister, Steven Ciobo, to keep the dream of a deal alive,” Mr Pietsch said.

“As the sixth country to ratify the agreement, the Australian government has formally brought the agreement into force.”

Australia is the third largest raw sugar exporter in the world (after Brazil and Thailand). Sugarcane is grown by more than 4000 farm businesses and processed at 24 Australian mills. The industry directly employs 16,000 people.

RELATED NEWS: ‘New billion dollar Indian subsidy hits global sugar prices’.

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