UNCERTAINTY SURROUNDS EC SUGAR TENDER RESULT-TRADE

  Considerable uncertainty surrounds the
  outcome of today's EC white sugar tender, traders here said,
  noting it remains overshadowed by European operator threats to
  move over 800,000 tonnes of sugar into intervention.
      They said that due to the dispute between the Commission
  and producers over the issue, it is not clear whether the
  Commission will authorise any exports at all or grant licences
  on a large tonnage.
      The subsidy is seen being set above 45.00 Ecus per 100
  kilos, although traders are reluctant to predict a precise
  level after prices fell yesterday.
      Earlier, traders in Paris said they expected the Commission
  to award licences for around 50,000 tonnes of white sugar with
  a maximum export rebate of 45.75 to 46.0 Ecus.
      Last week, the Commission granted licences to end August on
  60,500 tonnes of whites at a maximum rebate of 44.819.
  

