Hungary refines cane sugar after about a hundred years


From Monday, Hungarians will be able to buy the first cane sugar refined in the country in about a hundred years, Zoltán Széles, director of the Kaposvár sugar refinery, said on Friday.

The Kaposvár sugar refinery, owned by Magyar Cukor, a unit of Austria's Agrana, is the last one operating in Hungary. All of the other refineries were shut down after the 2007 season, when the EU slashed sugar price subsidies and offered farmers and refineries incentives to get out of the business.

With fewer sugar beet farmers to supply the refinery, Magyar Cukor started revamping it to refine sugar cane in April. The refinery recently took its first delivery of 8,000 tons of sugar cane from Brazil and expects to finish refining it by the end of August.

Refining the sugar cane is a "break-even" business for Magyar Cukor, Széles said. The aim is to maintain market share, he added.

The refinery will start its annual sugar beet campaign on September 7, refining 105,000-110,000 tons of sugar from 900,000 tons of sugar beet over 100-110 days.

The refinery meets about one-third of domestic demand for sugar.


Nagy: More Involvement in Insurance Market Banking

Nagy: More Involvement in Insurance Market

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Home Loan Rates Climb Over 10% Residential

Home Loan Rates Climb Over 10%

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.