WASHINGTON (Reuters) - Lawmakers on Wednesday introduced
legislation that would eliminate the price support system
available to U.S. sugar producers by the end of the 2004 crop
season.
Rep. Dan Miller (news
- bio
- voting
record), a Florida Republican, said the bill would
gradually reduce the government-set minimum price, or price
support, offered to U.S. sugar processors starting this crop
season.
The legislation would also reduce raw cane sugar prices to
the same level as the world market.
U.S. sugar policy, shaped largely by a powerful decades-old
lobby of big sugar refiners and beet and cane growers, has
been a target of reformers for years.
Critics of the sugar program contend price supports have
kept domestic sugar prices at more than twice the world level,
and put many refiners out of business.
Last year, the U.S. government was required to buy $435
million in sugar and it costs $1.6 million a month to store
this sugar, Miller said.
``While this is a sweet deal for sugar producers, it leaves
a sour taste in the mouths of taxpayers, consumers, American
workers and the environment,'' Miller said.
The U.S. sugar industry said the price support system was
necessary to keep processors from going bankrupt because of
cheap, subsidized imports mandated under international trade
agreements. Domestic sugar prices are near 20-year lows.
Last week, the U.S. Agriculture Department said it would
sell up to 140,000 tons of government-owned sugar to help
boost depressed sugar prices. |