Sugar business goes sour

Some of the foreign sugar investors are thinking about leaving the Romanian market, unless the Government agrees to increase the customs duties for the sugar imports. “The foreign shareholders are even thinking about getting out. At some point, they even said: ‘We will only keep trying this year’,” said sources from the Cristal Diamant holding, which owns three sugar plants in Arad, Carei and Oradea. The Oradea factory alone posted $20m turnover last year. “We gave been incurring massive losses for the past few years,” the quoted sources said. ZF