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This story on the Wall Street Journal page talks about changes in the sugar industry.
Revised: This link might work better
Sugar StoryOne of the companies that may be affected is Tate & Lyle, the UK's largest sugar refiner and the manufacturer of Lyle's Golden Syrup.
I wasn't sure if that link would work, good to know what works and what doesn't. I was half-way expecting that WSJ story to morph into the Brexit issue when they brought up Tate & Lyle.
Taxing to discourage consumption has a mixed track record. Some folks think it worked well for smoking, but some states have become dependent on those taxes and are seeing declines in tobacco taxes affecting their state budgets.
The soda tax hasn't appeared to work as well where it's been used, and it's unlikely that they'll be able to raise the taxes to the point where demand becomes truly elastic--restaurants make huge profits on soft drinks, too.
The shopping center nearest us just got a 1% increase on sales tax (on everything except food, I think) so they can help pay for Scheels to build a huge new store, complete with a Ferris Wheel inside and put up a parking garage where the current Scheels (not small) is. :sigh:
Best line I read all weekend: How can you tell macroeconomists have a sense of humor? They use decimal points.
Here's the key section:
Meanwhile, restrictions on cane-sugar imports into the EU will remain. The combination could squeeze importers like Tate & Lyle Sugars, whose London refinery has been turning cane sugar into sweetener for 138 years.
“The clock’s ticking for us,” said Gerald Mason, a vice president of Tate & Lyle as he watched a crane unload a 35,000-ton shipment of sugar. “We are not going to be competitive after 2017 unless the regulation is changed.”
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