Luther Markwart focused on “take home” messages in his summary remarks toward the conclusion of this year’s American Sugarbeet Growers Association annual meeting. “What do we tell our growers? What do we do as leaders of this industry?” ASGA’s longtime executive vice president asked the local and regional grower association leaders in attendance.
U.S. sugar prices have traditionally been far above and largely independent of world prices due to import restrictions and provisions of the U.S. sugar program (price supports and domestic marketin allotments). In particular, a tariff-rate quota (TRQ) insulate the domestic market from global price spikes by putting a ceiling on the quantity of sugar that the U.S. is required to import, so domestic prices are set primarily by internal supply and demand conditions.