In 1977 the United States used an estimated 11.2 million tons of sugar but produced only 6.2 million tons. Unlike many countries, the U.S. Government does not set domestic sugar prices; consequently, the world sugar price influences both imported and domestic prices. While high fructose corn syrup sales are currently depressed due to low sugar prices, this sweetener could provide a counterweight to high sugar prices. An International Sugar Agreement, designed to stabilize world sugar prices within an 11- to 21-cent per pound range, became effective on January 1, 1978, but United States participation is subject to ratification by the Senate.
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