Nordzucker loses faith in ministry plans to stabilize sugar market prices

The agreement between the Agriculture Ministry and sugar mills to increase the intervention price of sugar, scheduled to come into effect by October 22 has been put in jeopardy. German based Nordzucker, is refusing to act in line with other sugar companies. The Ministry promised to increase the price as soon as sugar mills filed letters requesting lower production limits. Now that all the sugar companies have already agreed to reduce production volumes, Nordzucker has decided to take a different course of action. Fearing that the government will let the sector down, it is demanding that the Ministry first increase the price for sugar and then it will reduce output. (Puls Biznesu, p. 8) M.T.