US Tariffs And Cheap Foreign Sugar A Threat To Local Sector
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Guest – Dr Thomas Funke, CEO of SA Canegrowers.
South Africa’s sugar industry is facing a perfect storm. As locally grown sugar is facing punitive tariffs in the US, cheap foreign sugar is flooding into South Africa. This is bad news for both local growers and local consumers: imported sugar only inflates the profits of importers, who sell the cheap imported sugar at parity with local stock, meaning there is no price benefit to local consumers.
South Africa’s sugar industry is facing a perfect storm. As locally grown sugar is facing punitive tariffs in the US, cheap foreign sugar is flooding into South Africa. This is bad news for both local growers and local consumers: imported sugar only inflates the profits of importers, who sell the cheap imported sugar at parity with local stock, meaning there is no price benefit to local consumers.