According to the report, the global quota will be raised by 200 thousand to 250 thousand tons. The country holds 17.6 of the total. Under this marketing system, Dominican sugar secures a price double that of the international market. The price of a pound of sugar has recently fluctuated around 11 cents per pound in the world market, while the quota price is currently about 22 cents. Nonetheless, no news is good news for the Dominican consumers because this increase in the quota could aggravate the present deficit in the local market.
Critics argue that the only viable solution to the crisis is to free imports of sugar.
If this increase materializes, it would be the third one this year. According to unidentified sources, the decision to raise the quota was made because the U.S. crop is well below expectations this year. The latest increase involves some 68 thousand tons. The Dominican authorities are keen to obtain the consent of the Haitian government to allow the country to export an additional 40 thousand tons of bananas to the EU as part of Haiti's quota. To that effect, officials from both countries recently met during President Preval's visit to Santo Domingo.