Russia to pump more gas through Ukraines GTS

By bne IntelliNews November 28, 2012
The Sintal Agriculture Plc (SNPS) intends to exit sugar business focusing more on production of grains, reads an official statement made by the companys vice director. Company has already sold its Parhomov sugar production plant for USD 1.7mn and temporarily closed down Kongressov sugar production plant. Company explained its decision by the fact that capital expenditure for growing sugar beet is higher when comparing to production of grains. According to AgroInvest experts, a downward trend in purchasing prices for sugar was registered, e.g. price for sugar futures of CME has dropped by 20.2% as of today compared to its value a year ago. Astarta, other main sugar producer has also showed negative financial results due sugar prices and sugar production, AgroInvest noted.

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