Pricing of #11 world sugar futures has languished near its current range since last July and stayed mostly below 14 cents per pound through most of January. Meanwhile, FOB beet sugar pricing in the U.S. has strengthened. (This has played a part in shrinking the cane sugar premium over beet sugar, but that’s a story for a future blog post.) As the chart below shows, this has made importing world sugar more feasible.
The out-of-quota tariff is 15.36 cents per pound for raw, 16.21 cents for refined.
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