EC Sugar Stance led to German Intervention Move

A shift in the European Community’s attitude to exports led to West German producers withdrawing sugar sold into intervention, industry sources said.

The sources noted the withdrawal followed a rise in maximum Commission restitutions to within 0.5 European currency units, Ecus, per 100 kilos of the level traders claim is needed to match intervention prices.

One source said, “This was taken as a sign that the Community was taking a more favourable stance towards exports.” He added producers still expected more from the Commission.

German producers had sold 79,250 tonnes into intervention.