Associated British Foods (ABF) yesterday blamed a 21 per cent drop
in operating profit on European sugar industry reform and
significantly higher energy costs.
Oversupply of sugar in the EU and higher energy costs combine to
knock profits for the year at British Sugar, its owner Associated
British Foods warned today.
Sugar prices look set to rise in the accession countries by up to
60 per cent, warns the European chocolate and confectionery body
CAOBISCO this week, predicting major set backs for food
manufacturers installed in the zone. The warning...
With the Commission proposal for changes to the EU sugar regime but
a few months away, Commissioner Franz Fischler explains why sugar
reform is 'unavoidable.'
