In 2009|10 the raw sugar refinery operated together with a joint venture partner, Studen, generated revenue of € 33.9 million (prior year: € 9.4 million). With higher sugar sales volume, AGRANA won significant additional market share in Bosnia-Herzegovina.
Market developments in the 2009|10 financial year were shaped by the rise in world market prices. AGRANA buys the raw sugar required for the refinery in the world market. However, the profi tability of refined sugar was hurt by the higher production costs and the prices which could be obtained locally. Moreover, high white sugar prices made customers less willing to buy.