Mon, 12 Jun 2017 09:51:22 +0000 By BUUMBA CHIMBULU THE unfavourable market conditions experienced in the European Union (EU) market has resulted in Zambia Sugar to reduce its exports by 74 percent in that region, company Managing Director, Rebecca Katowa has announced. Ms. Katowa said EU prices were significantly weaker than the previous year resulting in the company reducing the bulk exports to the region while looking to regional markets for its products. She explained that regional markets were valuable alternative to EU as prices were expected to remain above world levels despite increasing levels of completion amongst regional producers. “In order to maximise revenues from reduced production, the export sales mix was adjusted favourably by reducing bulk EU exports by 74 per cent. “Prices to the EU have collapsed to a level that is not cost reflective, so we are deliberately shifting volumes to the region; our strategy is to actually use […]
