The EU plans to vote on the issue of opening sugar import quota on the 24th

The euro zone agriculture minister said on the 21st that the European Union will vote this Thursday (February 24) on whether to open additional sugar import quotas.

Earlier, the European Commission, the European Union’s executive body, proposed opening up import quotas for sugar, which will add 500,000 metric tons of extra sugar to the EU market to calm down the market's supply of sugar.

Due to concerns about supply shortages, coupled with the record low levels of sugar inventories in the euro area, spot sugar prices in some regions in Europe exceeded 1,000 euros/metric ton in February.

Roger Waite, a spokesperson for the Sugar Council, said that “refinery and sugar users in some markets in Europe are facing insufficient sugar supply, so the committee is eager to use existing tools to respond to this.