France: Sugar producing company Cristal Union posts annual loss of 89 million euros

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Paris: Cristal Union, French sugar maker has posted a net loss of 89 million Euros ($100 million) in the financial year 2019-20. The company is the fourth largest sugar group from Europe. Low sugar prices have affected the company.

The cooperative group stated that for the year ended January 31 its revenue fell 6 per cent to 1.6 billion Euros. The group had decided to shut two sugar mill in France last year expecting the global oversupply of sugar will continue.

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