Sugar fell for a second day in London after the European Union, world's second-biggest sugar exporter, said it would export some of its excess stock and funds began selling in both London and New York.The price goes down and farmers in poor countries suffer as a result. But that's the market right? Wrong. Each year, EU consumers and taxpayers foot a bill of €1.6bn to subsidise the over production of sugar.
Europe exports sugar at prices around 50 to 65 per cent less than the high prices guaranteed under the CAP - far below European costs of production.So first they screw us and then the screw the poor. But don't worry its all in a good cause.
The aim of the common agricultural policy is to provide farmers with a reasonable standard of living, consumers with quality food at fair prices and to preserve our rural heritage.So thats all right then.