July 15 2002, 13:44 Interfax-Ukraine

Ukraine: sugar association against lowering minimum prices

Interfax-Ukraina reports that Ukrainian association of sugar producers Ukrtsukor, embracing sugar refinery plants of the country, did not support the suggestion of some its members to lower the minimum prices for sugar and sugar beet. The decision was taken at the sitting of association's board on July 12.

There had been proposals of some sugar producing companies to lower the minimum price for sugar beet down to equivalent of US$26.6 from current US$ US$30.9 per tonne and that for sugar to US$375.2 per tonne from current figure equivalent to US$444.6 per tonne.

As spokesmen for the association said, 70 percent of sugar producers were against such a decision. "The majority of sugar producers think it necessary to preserve the current prices, because farmers planted sugar beet, counting for these very prices," said the representatives.