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Magyar Cukor closes sweet sugar season

The suppliers of market leading sugar processor Magyar Cukor Rt. harvested a record 1.1 million tons of sugar beet in 2004. The output of the company?s sugar plants in Pet?háza, northwestern Hungary, and Kaposvár, southwestern Hungary, was 162,000 tons, nearly twice as much as the previous year?s 86,000 tons, the management said. This means that Magyar Cukor, which controls 37% of Hungary?s total sugar quota, has a 14,000-ton surplus on top of the quantity it is allowed to sell in the EU?s domestic markets. The surplus can be either sold outside the EU or be counted against the company?s 2005 quota. Although the EU is planning on a radical reform of the current market regulation system, the successful season demonstrated that Hungary?s sugar industry remains a significant factor in this market, CEO Béla Fischer said. Magyar Cukor is part of Austrian Agrana Group, which has 11 plants in Austria, the Czech Republic, Slovakia and Romania.