Take a look at this document: www.sugar.ca/fact_intNatl.htm
The Sugar Industry is apparently a highly subsidized industry. Here are some snippets from this document:
- Canada's sugar producers are unique in the world in that they do not depend on government subsidies
- In most other countries, governments artificially inflate sugar prices while restricting imports.
- The world's distorted sugar market is paid for by consumers. Most developed countries keep domestic sugar prices high with subsidies and transfers from consumers.
No wonder Sugar profits are so highly protected. Hence any hint of competition would cut into profits.