World Sugar Pact Extended For Year

Press, Volume CV, Issue 30953, 8 January 1966, Page 13

World Sugar Pact Extended For Year

(N.Z.P.A. Reuter —Copyright) LONDON, January 7. The international sugar agreement, by which the world sugar market could be controlled. had been extended for another year, the International Sugar Council announced yesterday.

First made in 1958, the agreement was intended to be the means of controlling the free market by the imposition of quotas and price agreements. The economic clauses of the agreement have not been operative since January, 1962, when delegates to the council failed to agree on policy. The original agreement has been automatically maintained by periodical formal extensions in the hope that at some stage a way would be found to amend it so that it became generally acceptable. Were it to lapse completely, another agreement would be difficult to establish.

The United Nations Sugar Conference, the council’s sponsoring body, recommended last October an extension of the existing agreement while discussions aimed at the production of a new formula continued. Today the council announced that a sufficient number of member-countries had now signed the extended agreement and it could become legal. Two exporting member countries, however. Guatemala and Panama, as w'ell as Ghana, an importing country, had not yet signed. All were; believed to be willing to; sign. A ■ new signatory was; Tunisia, the council said. I