Hellenic Sugar Industry optimistic over 2017 beet crop

Hellenic Sugar Industry will achieve a goal for this year’s crop to cover more than 100,000,000 sq.m. in Greece, Pantelis Manis, the industry’s CEO told ANA, while Pavlos Boyiannidis, president of beet growers in Central Macedonia, said growers will support this goal despite a 4.0 pct decline in average prices this year.

Manis said that if growers cultivated more than 30,000,000-40,000,000 sq.m. in Orestiada and Serres, then Hellenic Sugar Industry could restart operation of its factories in the two cities. He noted that efforts were made to repay by the end of March a debt of 3.0 million euros to beet growers for their 2016 production. He added that a ministerial decision has been signed for an increase of connected support to beet growers to 71 euros per 1,000 sq.m. and that authorities were expecing the “green light” from the European Commission.

Manis said that an international bidding tender to sell its factories in Serbia was progressing smoothly and noted that the minimum price was set at 25 million euros.

A deadline to submit bids in a new tender to sell Hellenic Sugar Industry’s property assets, launched by Piraeus Real Estate, ends on March 3, 2017. The sale is part of a program for the restructuring of Hellenic Sugar Industry’s finances, agreed between the company, Development ministry and Piraeus Bank.