Louisiana Sugar receives re-export license
Louisiana Sugar Refining, L.L.C. on Aug. 17 announced it has been granted a re-export license from the US Department of Agriculture. The license will allow the company to either export domestically grown refined sugar and subsequently import from world markets an equivalent quantity of raw sugar or import world raw sugar to be refined within 90 days of entry. In the latter scenario, Louisiana Sugar would be required to either re-export an equivalent quantity of refined sugar or sell the equivalent quantity of refined sugar to specially authorized food companies. Qualifying food companies have re-export license that allows them to purchase the sugar on world markets to help make their finished product more competitive on world markets. It is the latter example, selling the sugar to food processors such as confectionery companies that will export the product, that make the license particularly attractive, the head of LSR says.“A re-export license will give our customers access to world sugar prices,” says Red Geurts, general manager and chief executive officer at LSR “It will allow them to be more competitive in the world market.” Cargill is the exclusive marketer of sugar produced by Louisiana Refining.