Sugar: Guatemala to Double Sales to Taiwan

Both countries agreed to increase from 60,000 to 125,000 tons the export quota of Guatemalan sugar that enters the Asian nation free of tariffs.

Tuesday, July 16, 2019

In the framework of the Second Meeting of the Administrative Commission of the Free Trade Agreement between Guatemala and the Republic of Taiwan, held in Taipei, Taiwan on July 8 and 9, both parties agreed to eliminate tariffs for the entry of certain products, informed the Ministry of Economy of Guatemala.

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The statement adds that "... As a result of the agreement reached, Guatemala managed to increase the current sugar export quota with Taiwan, which enters the market free of tariffs. The agreement stipulates that Guatemala will be able to export a minimum of 125 thousand metric tons to the Taiwanese market, which positions the country as the most important partner for Taiwan as a supplier of this product. The agreement will come into force in the coming weeks."

Guatemalan authorities explained to Prensalibre.com that "... the 35% of sugar that Guatemala delivers to Taiwan is refined and the rest is raw, where it is refined again for human consumption and another percentage is used for other activities.

Also see "Sugar: Export Price Plummets

This agreement comes in a context in which an increase in the volume produced is reported, since the most updated figures of the Association of Sugar Producers of Guatemala (Asazgua) specify that between the 2017/2018 and 2018/2019 sugarcane harvest, a 7.7% increase in production was reported, going from 752,563 tons to 966,221 tons.

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