The CEO of Germany’s Sdzucker, Niels Biorksen, Europe’s largest producer of sugar and other carbohydrates, has warned of a significant increase in sugar prices.
The head of the German company said in an interview with the Mannheimer Morgen newspaper published today, Saturday, that we can see this increase today, noting that the costs of growing sugar beets are rising, as well as energy prices. .
Earlier, German Minister of Food and Agriculture Jim Ozdemir warned of rising food prices and called for additional assistance to low-income families.
“Food prices have not peaked yet,” Özdemir said, adding that many producers now have to spend more money on energy, driving up costs.
In May last year, inflation in Germany reached a record 7.9%, and the last time such a high level was recorded in the winter of 1973-1974 as a result of a sharp rise in energy prices.