While its big competitor Tereos on Thursday outlined its plan to straighten out accounts heavily in the red in 2020-2021, Cristal Union is showing its optimism.
However, the campaign was affected by the damage caused by yellows, which caused beet yields to drop by 30% and weighed on margins.
But that did not prevent the cooperative group from returning to profit during its fiscal year ended January 31.
Thanks to the renewal of form enabled by the rise in sugar and ethanol prices in Europe, and the explosion in demand for hydroalcoholic gels, the sugar cooperative (1.7 billion euros in turnover ) reported a net result of 69 million euros.
Read also:
Sugar: Cristal Union is studying consolidation in Europe
From the start of the Covid crisis, the sugar industry redirected its production of bioethanol, which was in free fall with the slowdown in global road traffic, towards the production of hydroalcoholic gel.
Sales of this flagship product of the crisis increased tenfold over the year, to exceed 500,000
This article is for subscribers only.
You have 70% left to discover.
Subscribe: 1 € the first month
Cancellable at any time
I ENJOY IT
Already subscribed?
Log in
