BAKU, Azerbaijan, July 15
By Ilkin Seyfaddini - Trend:
The two largest sugar factories in Uzbekistan, Angren Shakar LLC and Khorezm Shakar LLC, have ceased operations, Trend reports with reference to UzNews Agency.
In May 2020, it was reported that the Angren Shakar LLC plant produced hundreds of tons of sugar, which was being stored idle at warehouses. According to the plant workers, demand for local sugar has fallen after cheaper sugar was brought to the Uzbek market from abroad.
Plants of Khorezm Shakar and Angen Shakar LLC have a capacity of 1,000 tons of sugar per day.
Since the second half of 2017, both companies have begun to significantly reduce production volumes. The reason for this was the devaluation of the national currency in September 2017 (by almost two times).
At the beginning of November 2018, Khorezm Shakar LLC received a $20 million loan from Uzpromstroybank to replenish working capital and purchase raw sugar to resume production of white sugar.
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