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Sugar growers start to feel the pain
9 Feb 2005
The reform of Australia's sugar industry would result in more mill closures and job losses, the peak industry association Canegrowers said. Bundaberg Sugar last week said it would close its Fairymead mill. The government has also said it will suspend $73 million in subsidies, due to the slow pace of reform by cane growers and sugar mills. Canegrowers said growers and millers should be prepared for "painful decisions". Despite a recovery in sugar prices over recent months, some growers have scaled down production, diversified into other crops or are leaving the industry. There are 24 sugar mills left in Queensland after the closure of Fairymead.
Financial Review, 09/02/05
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