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Sugar Business Owners' Association: With just four sugar plants we're import dependent
04.03.2011, 09:43 | Business | 1070 views
Domestic sugar producers say Romania is helplessly seeing sugar prices rise internationally, while being dependent on European imports. Internationally, sugar prices hit the highest level of the past three decades, rising by 46% in the past year alone, to 0.71 dollars (0.51 euros), according to IMF data. Ioan Armenean, chairman of Romania's Sugar Business Owners' Association, says domestic production is two times lower than demand, which amounts to 550,000 tonnes, because there are just four sugar plants left out of the 33 that operated 20 years ago. "We depend on bourse quote. The price is made in New York, London or Paris," Armenean says. Read more on ZF.ro
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