Tereos does not rule out closing sugar factory in France

Reuters

Thursday, June 9, 2022

French sugar group Tereos may close some of its capacity in France as part of a wider strategy review as it anticipates further declines in sugar beet production, it said on Thursday. “Yesterday’s reality is not necessarily tomorrow’s reality,” Tereos Head of Sugar Europe Olivier Leducq told reporters after the presentation of the group’s yearly results. He said the review was ongoing and a cut in capacity did not necessarily mean the complete closure of a factory. The sugar beet area sown by Tereos cooperative members has shrunk by 10% in the last five years and Leducq said he expected it to fall by another 10% by 2024. Sugar beet production in France has decreased regularly since European Union quotas ended in 2017. Farmers have been deterred by low prices and, more recently, diseases that ravaged crops.

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