Canada's sugar companies sweeten to trade deal as new quotas confirmed
MONTRÉAL—The Canadian Sugar Institute has confirmed that under the terms of the Trans-Pacific Partnership, the U.S. has agreed to increase the limits on the amount of Canadian sugar crossing the border, Rogers Sugar Inc. has said.
The company voiced its support for the trade deal in light of the news, saying new access for Canadian sugar will total 19,200 metric tonnes. The further access will benefit two areas of the sugar industry, with both Canadian-origin refined sugar and sugar-containing products adding 9,600 tonnes to their cross-border quotas.
“We welcome the opportunity to increase export access to countries where trade barriers are significant with regards to refined sugar and sugar containing products.” John Holliday, president and CEO of Lantic, said.
“The TPP agreement is positive for the Canadian sugar industry, the agri-food industry, sugar beet processing in Alberta and our employees. As more details are made available, we will analyze the broader trade opportunities and develop strategies to maximize TPP to its full potential,” he added.
Given the long timeline for the ratification and implementation process, however, Rogers Sugar said it does not expect any financial windfall from the TPP in 2016.