South Africa Set to Lift Sugar-Benchmark Price to Shield Growers
South Africa is increasing the benchmark price used to calculate import duties on sugar, a decision backed by domestic producers who have struggled against inexpensive foreign competition. This move is intended to protect local sugar growers, including operations by major companies like Associated British Foods Plc, by making imported sugar more expensive and less competitive in the market.
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South Africa Set to Lift Sugar-Benchmark Price to Shield Growers
South Africa is increasing the benchmark price used to calculate import duties on sugar, a decision that will protect domestic sugar producers who have struggled against cheaper foreign competition. This move has been long requested by local growers, including Associated British Foods' South African operations, to help shield them from market pressures.
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