42,000 Tons of Sugar Sold to EU

Nicaragua, Honduras and Guatemala managed to place the product in Europe at $480 per metric ton, $120 above the price on the international market.

Tuesday, September 17, 2013

The auction was held under the framework of the Association Agreement between Central America and Europe. Although it was possible to place the sugar at a good price, producers had wanted to sell it for $500 per ton, said Mario Amador, general manager of the National Committee of Sugar Producers (CNPA).

"$480 per ton is a good price, we would have liked to get more, but it wasn't possible. That's what the market offered and that is what you have to take. At an auction the product is offered to the highest bidder and that was what we got, " he added.

The product was placed in a single batch for purchase during the auction in which seven EU buying houses participated. In total, 9000 tons of sugar were sold from Nicaragua, 8000 from Honduras and 25,000 from Guatemala.

"The price per quintal of sugar was sold at $22, which equates to $6 above the price on the global market today, which is $16 ..." said Amador, who added that the product will be shipped to Europe in the next 15 days.



More on this topic

EU Does Not Buy Sugar From Honduras and Nicaragua

September 2013

The auction to place 17,000 tons with 35 European buyers was annulled because of an inability to meet deadlines.

The information was confirmed by Mario Amador, general manager of the National Committee of Sugar Producers (CNPA). "... The auction in which Nicaragua and Honduras intended to sell about 17 thousand tons to 35 European buyers from 10 business houses set up in different countries, could not be completed because of non compliance with certain technical conditions ...", reported Elnuevodiario.com.ni.

Sugar: Costa Rica Is The Dog In the Manger

August 2013

The country won't cede its sugar quota to Nicaragua and Honduras, and it opposes to Guatemala, El Salvador and Panama conceding theirs.

For Costa Rica, Guatemala and El Salvador the Association Agreement with the European Union has not yet entered into force, so they are prevented from offering their sugar in an auction where 35 buyers bid to bring it to market in the old continent.

If You Can't Sell Your Sugar, Let Me Sell Mine

August 2013

Nicaragua and Honduras want to regionalize the EU quota, to be able to offer 53,000 tons of sugar.

Producers want the export quotas that the sugar growers in Costa Rica, El Salvador and Guatemala were not able to meet, as in those countries the Association Agreement is not yet in force, said Mario Amador Rivas, general manager of the National Committee of Sugar Producers (CNPA).

Nicaragua Sugar for Europe

June 2013

The Nicaraguan sugar industry expects that the entry into force of the Association Agreement will allow it export to the EU about 25 thousand tons of raw sugar, from the 60,000 quota for the entire region.

For the moment the quota allocated to country is 21,600 tons per year, with the possibility of growing 550 tons per year, but the sugar industry expects that with the advantage of being one of the first countries to ratify the agreement it will be allowed to increase its quota for the first year of the Association Agreement (AA).

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