Printer Friendly

CONSUMERS DON'T BENEFIT AS FALLING SUGAR PRICES HIT FARMERS, AMERICAN SUGAR ALLIANCE SAYS

 WASHINGTON, April 2 /PRNewswire/ -- The American Sugar Alliance issued the following:
 Latest government figures reveal that while the average retail price for refined sugar fell 3 percent during the past two years, the price for sugar-containing products tracked by the Bureau of Labor Statistics went up 7 percent.
 Since up to 80 percent of sugar in the United States is consumed by the food processors, bakers and candy manufacturers, the American consumer received little or no benefit from the decline in sugar prices.
 At the same time, the sugar farmers in the United States took a beating. Prices received by sugarbeet farmers dropped 15 percent during the period and prices received by cane sugar farmers declined 8.5 percent.
 In its quarterly Sugar and Sweetener Situation and Outlook Report, the U.S. Department of Agriculture noted that average retail prices for refined sugar dropped from 42.78 cents to 41.52 cents from 1990 to 1992. During the same period, the price index for sugar- containing products rose 7 percent.
 Also the report noted that during a 10-year period, from 1982 to 1992, the average cost of nutritive sweeteners -- including high fructose corn syrup, refined cane and beet sugar -- rose only about 9 percent, far less than the rate of inflation. At the same time, prices of sugar-containing products rose 54 percent.
 Van R. Olsen, president of the U.S. Beet Sugar Association and chairman of the American Sugar Alliance, noted also that U.S. consumers enjoy a retail price for sugar that is 25 percent below the developed-country average. The world average retail price for sugar is about 10 percent higher than the U.S. price.
 "Once again official government figures confirm that the American consumer gets a good deal on sugar, thanks to the American sugar program which assures a reliable supply of high quality sugar at a reasonable cost," Olsen said.
 Olsen noted, too, that by law the U.S. sugar program costs the federal government nothing, and in fact generates revenues of $25 million a year in marketing assessments plus other millions of dollars in tariff collections and interest payments on loans.
 According to Landell Mills Commodity Studies of London, the U.S. sweetener industry contributes about $18.5 billion to the U.S. economy each year and about 360,000 jobs.
 -0- 4/2/93
 /CONTACT: Joseph Terrell of the American Sugar Alliance, 202-457-1438/


CO: American Sugar Alliance ST: District of Columbia IN: SU: ECO

IH-TW -- DC007 -- 2428 04/02/93 10:18 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 2, 1993
Words:419
Previous Article:HUNTINGTON BANCSHARES WEST VIRGINIA, INC. AGREES TO MERGER AND SALE OF BANKING OFFICES TO UNITED BANKSHARES INC.
Next Article:INTRODUCTION OF PESTICIDE BILL TERMED 'AN IMPORTANT STEP FORWARD' BY NFPA
Topics:


Related Articles
U.S. SUGAR: A SWEET VALENTINE
RAINFALL HAMPERED SUGARCANE HARVEST
LAWMAKERS PRAISE NO-COST U.S. SUGAR POLICY
VALENTINE'S DAY MESSAGE: SUGAR'S DOWN BUT SWEETS ARE UP
MEMBERS OF CONGRESS HEAR WIDESPREAD SUPPORT FOR US SUGAR POLICY: THOUSANDS RALLY AT FIELD HEARING
SWEETENER FARMERS CITE POSITIVES OF U.S. SUGAR POLICY
SUGAR REPRESENTATIVES APPLAUD ATTACK ON GAO REPORT
ASA: ECONOMIST SAYS ENDING SUGAR PROGRAMS WOULD HIKE PRICES
AMERICAN SUGAR FARMERS: CANDY-BAR PRICE INCREASES DESPITE SUGAR PRICE DROP
Giving Thanks for (Sweet) Thanksgiving Treats

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters