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| Mexican
Sugar Companies Seek Inventory Financing, Release Of U.S. Import Quotas |
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By Reforma/Infolatina via COMTEX
May 16, 2011
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| MEXICO CITY, Feb 20, 2001 (Reforma/Infolatina
via COMTEX) -- Mexican sugar companies are demanding that the
government provide financial backing required to impose order on the
country's domestic sugar market. Sugar producers also urged
authorities to encourage the U.S. government to release details of
import quotas to be applied to Mexican sugar. National Sugar and
Alcohol Industries Chamber (CNIAA) leader Carlos Seoane said lack of
financing and uncertainty regarding U.S. import quotas have
triggered a 25-percent drop in the price of 50-kilogram sacks of
sugar this year, representing total losses for sugar companies of
280 million pesos. He said the most urgent need is a line of credit
worth 5 billion pesos to 6 billion pesos in order to finance storage
of sugar inventories until prices recover.. |
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