Dubai's Al Ghurair Turns to Sugar Beets as Refining Profits Fall

Jamal Al Ghurair, a member of one of Dubai’s richest families, is investing in a sugar beet processing plant in Egypt as a global glut squeezes profits for his cane refining business.

Companies in the Jamal Al Ghurair group are investing in the factory located about 200 kilometers (124 miles) from Cairo, he told the Dubai Sugar Conference Sunday. The European Union is flooding the world market with white sugar, reducing the premium the refined variety commands over raws, an important measure of refining profits.