Agara Sugar company offers suspended operation for any uncertain period. The provider director general Alkhan Alizade listed the company management plus the Government could not obtain agreement and troubles before Agara Sugar remain unresolved.
“I have no plans over production, but I do not want which such a big firm remain without purpose. This is not desirable. This isn’t acceptable in terms of financial system either. If sugar prices go much less expensive on international deals, in this case, production will be resumed”, Alizade said.
Currently, price of a lot of sugar is 512 Bucks on global transactions, up 73 Us dollars year on year. At Birmingham Stock Exchange (LSE) price of a ton of sugar was 439 USD in March 2016.
As reported, Agara Sugar dangling operation in December 2016 because of sharp competition with imported goods.
“Georgia mainly imports sugar out of Ukraine. This country holds 50% rate on Georgian market. Ukrainian sugars is cheaper and it is tricky to compete with it. As we do not restore each of our production, the demand from customers will be balanced by imported sugar. Subsequently, neither deficit none higher prices will be on the market”, Alizade noted at the conclusion of 2016.