The international sugar sector is presently looking back on one of the most turbulent 12 months in its recent history. Following four years of surpluses, many sugar companies have finally started to cut production in order to protect margins. This hasnot yet resulted in a financial turnaround as the balance sheets of most firms confirm. However, this can be considered as the first step towards putting the industry on a healthier footing. Of course, views differ markedly with regard to the sector's fortune in the 2014/15 season. Some expect that a modest recovery in margins may be on the cards based on indications that the world balance may swing into deficit, while others are taking a more pessimistic view.
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