German sugar maker Suedzucker to raise prices, shift to coal power, newspaper reports

Reuters

Saturday, June 25, 2022

BERLIN, June 25 (Reuters) - German sugar producer Suedzucker (SZUG.DE) plans "significant" price hikes to offset rising costs and prepares to shift to coal as Russian gas supplies to Western Europe slow in the wake of the Ukraine war, the Mannheimer Morgen newspaper reported on Saturday. "The costs of beet cultivation and energy are rising, and these are two significant blocks of production," Chief Executive Niels Poerksen said in an interview with the newspaper.

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