Sudzucker to hike prices but beet area expected to remain stable

Reuters

Tuesday, November 22, 2022

Sudzucker warned it would increase sugar prices again next year amid thinning margins. It noted that sugar demand in the bloc had returned to pre-pandemic levels, although Reuters reports that confectioners are looking at lowering production due to high costs. Similarly, in Spain, where the Consumer Price Index showed that sugar prices in October were 43% higher on year, the Association of Artisan Pastry Entrepreneurs (CEEAP) said it had to increase prices. Spain’s Union of Small Farmers and Ranchers (UPA) said that higher prices hadn’t helped the beet’s profitability, however. Sudzucker added that it didn’t expect a big increase in beet area next year due to limitations from crop rotations.

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