The Advocate: Sugar economist says industry in a sweet spot
The Advocate business writer Timothy Boone covered the American Sugar Cane League’s annual meeting and heard economist Jack Roney speak on United States sugar policy and prospects for the sugar market. Here’s Boone’s opening:
An economist with a sugar group said stable prices, stable demand and an agreement with Mexico has the industry in a sweet spot.
“I’ve got to tell you, of my 30 years in the industry this is the most optimistic I have ever been,” said Jack Roney, director of economics and policy analysis for the American Sugar Alliance, a national coalition of sugar cane and sugar beet growers, processors and refiners. Roney was in Baton Rouge Tuesday for the American Sugar Cane League’s annual meeting. About 400 people are attending the meeting, which wraps up Wednesday at L’Auberge Baton Rouge.
Roney said prices for unrefined sugar are currently around 26 cents per pound. That’s ahead of the 21 cents per pound baseline, the amount that farmers need to get to make it financially worthwhile to grow sugar cane.
READ THE FULL ADVOCATE STORY AT THE ADVOCATE’S WEBSITE HERE.
THE COMPLETE PRESENTATION BY ECONOMIST JACK RONEY CAN BE VIEWED HERE.