Two Slovak sugar mills are set to survive the current tough period
Two Slovak sugar mills, Trenčianská Teplá-based Považský cukor (Nordzucker) and Sereď-based Slovenské cukrovary (Agrana), are set to survive the current tough period, says Michal Abelovič, head of the local sugar mill union SCS. They lost €15m last year and expect another loss this year but plan to be in the black in 2020. They keep investing into energy systems and warehouses, and are even encouraging farmers to increase their sugar beet acreage. They are suffering, as sugar prices have fallen from €700 per ton in 2013 to the current €310 following EU market liberalization and a surge in sugar exports from India. Many smaller and inefficient sugar mills in Europe are being closed.