Sugar producers and importing countries of the world will bargain intensely over the next four-and-a-half weeks to fix basic export quotas, prices, and quota adjustment mechanism to replace a pact expiring at the end of this year.
GENEVA, SWITZERLAND (SEPTEMBER 10, 1973) (REUTERS)
SV INT Sign "Sugar Conference"
SV Canadian delegate arrives and enters followed by another delegate (2 shots)
SV INT. Barbados delegation (2 shots)
SV PAN chile delegates.
SV PAN Ivory Coast delegates.
SV & CU Australian delegates.
SCU Nigeria delegate
SV PAN Fiji and El Salvador delegates.
CU Malta delegate.
CU Kenya delegates
SV Pan Japanese delegates.
CU PAN cuba delegate
SV PAN Brazilian delegation.
GV PAN over delegates prior to conference.
52 Initials APSM/2130 APSM/2210
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Background: Sugar producers and importing countries of the world will bargain intensely over the next four-and-a-half weeks to fix basic export quotas, prices, and quota adjustment mechanism to replace a pact expiring at the end of this year. The conference in Geneva will also tackle problems connected with the possible accession to the agreement of the European Economic Community (EEC) All meetings are closed to the press and public, but conference source said the opening meeting on Monday (September 10th) was aimed at drawing up a programme of work for this second round of talks.
The present five-year agreement covers about half the world's sugar trade. The remainder is covered by special agreements - including the British Commonwealth Sugar Agreement, The United States Sugar Act, the Soviet-Cuban Sugar Arrangement, and the EEC Special Trade Arrangement. Representatives of these groups are attending the talks.
Tough bargaining is expected over prices. The present agreement's price range bears little relation to present market prices. Producers are asking for a minimum of around 6 U.S. cents a point (453 grammes).
The present agreement associates 33 exporting countries and 20 importing states.