The sugar business proved to be a sour spot for Associated British Foods (ABF) during the first half. The EU’s quotas on sugar production and constraints on exports were abolished at the end of September last year, leading to a surge in production. This extra supply pushed down the price producers could charge for their crop and has made the EU a net exporter of sugar.
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Mr Bearbull
A marginal truth
A company’s profit margins only have meaning in relation to the capital it employs
Mr Bearbull