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Over 500 farmers interested in sugar refinery project

More than 500 farmers, growing sugar beets on a total of 1,500 hectares, announced their interest in joining a regional sugar industry cooperative, regional daily Kisalföld reports.

News broke almost two months ago on a planned cooperative for local sugar farmers to establish a sugar factory. One of the possible locations for the new factory is Kapuvár (W Hungary).

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

The sole operating refinery has an output of 105,000 tons a year, less than a third of Hungary's annual demand.