The International Sugar Organization is an intergovernmental organization, based in London, the 86 member (the European Union and 59 other countries) states of the ISO represent:
- 83% of world sugar production
- 69% of world sugar consumption
- 95% of world exports
- 47% of world imports
Since 1953 there have been various attempts to raise and stabilize world sugar prices through international agreement. The latest agreement in 1977 established export quotas for its parties and intervention stocks in order to withdraw sugar from the market when prices were low. Like most of the previous ones, this agreement ended in failure. This failure was due in part to the fact that the European Union - one of the largest exporters - refused to sign the agreement. The agreement expired in 1984 and no further agreement on price-stabilizing measures has been achieved.
The 1992 International Sugar Agreement merely establishes a framework for conducting market analyses and exchanging information. The International Sugar Organization has the role of promoting the sugar industry, particularly in the developing countries, and improving the transparency of the market by publishing statistics on sugar production and trade and world market analyses.
The objectives of the International Sugar Agreement, 1992 are;
(a) To ensure enhanced international cooperation in connection with world sugar matters and related issues;
(b) To provide a forum for intergovernmental consultations on sugar and on ways to improve the world sugar economy;
(c) To facilitate trade by collecting and providing information on the world sugar market and other sweeteners;
(d) To encourage increased demand for sugar, particularly for non-traditional uses.
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