Worst EU Sugar Crop in 40 Years Spurs Imports as Refiners Profit
- EU sugar production will fall to lowest since 1971: F.O. Licht
- Refiners boosting imports as dry weather hurts crops further
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The European Union is poised for its worst sugar production in more than four decades, pushing domestic prices higher and spurring a wave of imports by the region’s refiners.
White sugar output in the EU’s 28 member states will fall 24 percent this season to 13.6 million metric tons, the lowest since 1971, researcher F.O. Licht GmbH estimates. Licenses granted to import sugar for refining are already running 57 percent ahead of last year’s level, according to figures from the European Commission, the bloc’s regulatory arm.