We write to urge you to exercise your authority to make adequate supplies of sugar available to the U.S. market. At present, several factors including a severe supply bottleneck in the Gulf
region have driven prices to multi-year highs and, if not addressed, will encourage the offshoring of additional food manufacturing capacity.
As you may know, futures prices for domestic sugar are 30 percent above normal levels, recently trading at 33.5 cents per pound. These prices are even further above the price of world-market
sugar, which is trading around 17 cents per pound, meaning the U.S. price is nearly double what many foreign companies pay.
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