Azucarera Ebro investigated regarding sugar quotas

- Last updated on GMT

Related tags: European union, Spain

Spanish anti-corruption prosecutors have asked the High Court to
investigate sugar company Azucarera Ebro Agricola for suspected
violation of European...

Spanish anti-corruption prosecutors have asked the High Court to investigate sugar company Azucarera Ebro Agricola for suspected violation of European Union sugar quotas. Last year, Azucarera Ebro merged with dairy producer Puleva to form Spain's largest food company Ebro Puleva. On June 26, Azucarera was accused by the prosecutors of defrauding the European Union of $34.17m by selling excess sugar in Spain. Prosecutors alleged Azucarera Ebro produced and sold sugar beyond a quota of 780,000 tonnes per year in the 1997-98, 1998-99 and 1999-2000 harvests. EU rules require sugar producers to store their excess sugar or sell it outside the 15-nation union. On June 26, High Court Judge Baltasar Garzon received the prosecutors' request and will determine whether a more extensive investigation should be launched. Source: Reuters

Related topics: Market Trends

Follow us

Featured Events

View more

Products

View more

Webinars