Astarta increased production of white sugar by 34%
Despite the extended harvesting campaign due to difficult weather conditions, Astarta’s farmers achieved record harvests benefiting from highest ever corn and sugar beet yields.
It is reported by the company in its 2023 report.
On back of bigger sales volumes, revenues increased by 33% y-o-y to EUR240m. Exports generated 78% of the segment revenues in 2023.
At the end of March 2024 Astarta launched its spring sowing campaign. The sowing of sugar beet has been completed, and corn, sunflower, soybeans and organic crops are underway.
Adverse weather conditions also caused logistical difficulties in delivering raw materials to processing plants, which affected production processes. At the same time, in 2023 beet processing and sugar production hit the highest level over the past five years. The company increased production of white sugar by 34% y-o-y to 377kt. The volume of sugar beet processed grew by 37% y-o-y to 2.7mt in 2023.
The segment’s revenue increased by 28% to EUR199m, mainly on the back of 26% higher y-o-y sugar sales volumes. Exports of sugar and sugar-by products contributed 20% of the segment’s revenues in 2023 vs 14% during 2022.