GRAMERCY, La., Aug. 16, 2012 /PRNewswire/ -- Louisiana Sugar Refining, LLC (LSR), announced today that it recently received a re-export license from the United States Department of Agriculture (USDA), which will allow LSR access to the world sugar market.
"A re-export license will give our customers access to world sugar prices," said Red Geurts, LSR general manager and CEO. "It will allow them to be more competitive in the world market."
According to the USDA, the Refined Sugar Re-Export Program is designed to facilitate the use of domestic refining capacity to export refined sugar into the world market. The program establishes a license under which a refiner can: Export domestically produced refined sugar and later import an equivalent quantity of world raw sugar; Import world raw sugar for refining and within ninety days of entry, either re-export an equivalent quantity of refined sugar into the Customs territory of a foreign country or transfer the equivalent quantity of refined sugar to domestic sugar containing products manufacturers that possess a valid sugar containing products re-export license.
Cargill is the exclusive marketer of the sugar produced by LSR. For more information on the LSR re-export license, please contact 952-742-2610 or 952-742-1173. For more information on the re-export program please visit the USDA website: http://www.fas.usda.gov/itp/imports/Sugar/sugarreexport.asp
SOURCE Louisiana Sugar Refining, LLC