Major fallout looms over sugar reform package

TWO scenarios are starting to emerge from the proposed sugar reform announced last week by Agricultural Commissioner Mariann Fischer Boel.

The most alarming is the prospect of an end to beet growing in Ireland. The other is that the Greencore Group faces the elimination of a €20 million profit stream that served it well.

Chief executive David Dilger may not exactly be wringing his hands in despair however, as the elimination of the sugar beet sector would also take a lot of aggravation out of his life as boss of the sugar company. It could also generate a cash windfall of €120m that could be used to deepen the group’s involvement in consumer foods, which is where Mr Dilger wants to direct the group anyway.