date:Sep 21, 2018
Tereos, one of the worlds largest sugar makers, is seeking to cut its sugar beet production next year by 5 percent and has asked its cooperative members to reduce plantings, it said on Thursday, citing difficult market conditions.
A surge in output after the European Union abolished production quotas last year and a 50-percent slump in prices since early 2017 in an oversupplied world market have left many EU sugar firms struggling with plunging profits.
We are going towards 5 percent reduction