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Agrana invests €10 mln at Hungary sugar refinery

Austrian agribusiness Agrana is building a €10 million silo at its sugar refinery in Kaposvár and will spend another €10 million on a packaging plant in the coming years, CEO Johann Marihart said in the fresh issue of Austrian business paper WirtschaftsBlatt, APA reported. "Hungary is not a growth market, thus our goal is to expand our market share," Marihart said. The Kaposvár sugar refinery, owned by Agrana unit Magyar Cukor, 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.