Sugar is a key ingredient in an awful lot of foodstuffs Americans consume, which may be a reason why there is an import quota on sugar of 1.3 million metric tons. Over 85% of the sugar consumed in the U.S. is grown domestically, and the rest is subject to an import quota.The quota was imposed in the 1970's and hasn't really been updated since then -- they're so outdated that some countries that don't even produce sugar anymore (such as Jamaica and Haiti) continue to have sugar quotas allocated to them. As a result, the price difference between sugar sold on the world market and U.S. prices is at a record level. That may change with the imposition of new sugar quotas on April 1.
Source: WSJ
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