Südzucker expects sugar prices to recover as EU supply tightens
Europe’s largest sugar producer, Südzucker, expects sugar prices to recover from four-year lows as drought and insufficient rainfall reduce sugar beet yields. CEO Niels Pörksen said lower production and diversion of some raw material to ethanol instead of white sugar would tighten supplies and support prices.
Europe’s largest sugar producer, Südzucker, said on Thursday that it expects sugar prices to recover after recently falling to their lowest levels in four years, as drought and insufficient rainfall negatively affect sugar beet yields.
Südzucker CEO Niels Pörksen said that lower production volumes would be one of the factors driving sugar prices higher, while some of the raw material would be diverted to ethanol production instead of being processed into white sugar, further tightening market supply.
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Source : UkrAgroConsult
