All markets are embedded in ethical relations and moral discourses. This is often forgotten or ignored in alternative agrofood studies, where there has been a frequent assumption that ‘ethics’ can be inserted into markets (Trentmann, 2007), or are only acknowledged in products certified as ‘ethical’ and suchlike (Barnett, Cloke, Clarke, & Malpass, 2005). This paper takes a different approach, choosing to explore how a mainstream commodity, widely associated with the development of capitalist agriculture (Mintz, 1985), is unavoidably embedded in both (...) a set of moral discourses and a web of ethical relations (Goodman, Maye, & Holloway, 2010). Specifically, I offer a critical reading of the moral discourses that circulated between the Caribbean Sugar Protocol signatories and the European Union in the context of the 2006–2009 European Union Sugar Reform. The paper looks at how both Caribbean and European actors negotiated ‘fairness’ and in doing so, reconfigured their historical relationship. I discuss how a relational—or ethical—approach to fairness was evoked in certain instances, disrupting the European Union's (EU) neoliberal rhetoric. Contributing to the literature around ‘moral geographies’ (Jackson & Ward, 2008; Proctor et al., 1999; Smith, 1999) and also to agrofood studies, I conclude by affirming the significance of a relational approach to how the ‘fairness’ of the EU Sugar Reform might be comprehended and to how the ethics of neoliberal market reform can be more generally understood and critiqued. (shrink)