Europe may have to rely on sugar imports

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European Union may have to rely on the sugar imports as the local farmers are turning away from the sugar beet cultivation. According to the media report, as ample global supply kept prices low therefore growers reduced plantings in recent seasons. Along with this the poor weather and the crop disease have affected the crop productivity.

According to the news report published in Bloombergquint.com, adviser Agritel estimates that the farmers have reduced the cultivation by 2 per cent and production is expected to drop by by 7 per cent. Francois Thaury, an analyst at Paris-based Agritel said, “The sugar beet cultivation is not yielding much profit due to competitive prices of sugar in the global market and farmers are diverting from the sugar beet cultivation to other crops”

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