Posted
8/13/2009 08:47:00 PM
by Douglas
America is out of
sugar.The food producers, which also include Kraft and General Mills, gave the warning in a letter to the Obama administration. They claim that unless import quotas are increased there could be a severe shortage of sugar used in chocolate bars, breakfast cereal, cookies, chewing gum and thousands of other products.
US sugar prices are trading near 30-year highs on growing concerns about global supplies.
So why the panic? Maybe if all the corn in the country wasn't being wasted in ethanol production, your Hershey bar wouldn't be in such trouble. Besides, relaxing standards on inporting food? What's the worst that could happen?