BELGRADE (Serbia), July 4th (SeeNews) – Serbia doesn’t need more than four sugar factories as the domestic market is not big enough, according to local media, according to Miodrag Kostic, president of the vertically integrated conglomerate MK Group.
The Serbian market could only absorb 200,000 tons of sugar per year, while up to 180,000 tons could be exported to the EU, the Hungarian-language newspaper Magyar Szo Kostic quoted in an interview on Monday.
Last year, the three sugar factories of the MK Group’s subsidiary Sunoko produced a total of 420,000 tons, while the total production of the two factories of the Greek sugar industry in Serbia was 170,000 tons, Kostic said.
The 200,000-ton surplus cannot be sold below market price unless the government provides support, he added.
Hellenic Sugar Industries announced on Monday that the MK Group is among the three bidders for its two factories in Serbia in Crvenka and Zabalj.
Sunoko operates sugar mills in Vrbas, Pecinci and Kovacica and is the largest Serbian sugar manufacturer and exporter, according to the company’s website.
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