Sugar: Bulgaria

Following the Bulgarian revenue decline in the prior year caused by the economic crisis and the termination of the local joint venture, 2010|11 brought a consolidation in revenue to € 14.5 million (prior year: € 20.3 million) and in profitability.

In Bulgaria, Sugar sales volumes both with food retailers and the food industry decreased. Especially the result with the retailer channel was down significantly from the prior years, because of the more difficult supply situation and intense competition. Owing to the Sugar supply shortage, prices rose towards the end of the year in Bulgaria as well.