Essay on United States Sugar Policy Affects Our Nation 's Economy

Essay on United States Sugar Policy Affects Our Nation 's Economy

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United States Sugar Policy
There are ideas that I like about the current policy the United States government has set up in regards to the price of sugar, and there are things that I very much dislike. The United States policy on sugar determines how growers and processors will do business in the current marketplace, and whether or not they will be profitable and efficient. [The Farm Bill was implemented by the federal government to ensure domestic trade fills up 85% of the U.S. sugar market. The bill also guarantees a minimum price floor on sugar] (Bryan Riley). The current United States sugar policy has impacted on a variety of topics including price, international trade, and employment to name a few. For me, it depends on the viewpoint of the situation to justify how the current U.S. sugar policy affects our nation’s economy.
The United States is the biggest consumer of sugar around the world, and we also have the highest price per pound. This is because our government has restricted the amount of imports allowed into the U.S. sugar market. [To maintain this minimum price, the government restricts low-priced imports by establishing a quota that limits the amount of sugar Americans can import] (USDA). Unlike other crops grown in the United States, the government doesn’t subsidize American farmers who grow the two forms of sugar; sugar cane and sugar beets. The fact that the bulk of our nation’s sugar is grown domestically, it causes the price per pound of sugar to be more than double what other countries are paying. [The government gives out loans in which the American farmers are able to supply the nations demand. Those farmers then sell their yield to the nation’s market at no cost to the U.S. Treasury] (USDA). Through ...

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...From a sugar cane or sugar beet farmers’ point of view, I would be in favor of keeping this policy in place because it ensures me a spot in the market to sell my yield and make a living. On the other hand, If I were an owner of a small business or corporation that relied on sugar, I would be in favor of ditching the policy and letting international trade flood the market to drive down the price of sugar so I’d be able to produce more at a greater economic profit rate. As a consumer, yes, I think it would be nice to be able to cure my sweet tooth at a lower price at the store, but I would hate to watch all the negative outcome international trade would bring to our nation. For those reasons, I believe that it depends on the situation at hand to justify whether or not the current United States policy on sugar has a positive or negative effect on our nation’s economy.

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