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TORRINGTON,
Wyo. (AP) Sugar beet growers agreed to keep the Holly
Sugar refinery running through January by committing at least
20,000 acres to the factory.
Were presently committed at 20,100 acres and expect to
get another 1,500 acres or more, said Leroy Schafer, the
refinerys district manager, Friday.
About $100,000 in interest-free loans raised by banks,
businesses and the city helped farmers exceed Hollys
20,000-acre minimum, the Torrington Telegram reported.
Some landowners wanted farmers to pay cash up front because a
downturn in the market caused beet prices to sink to their
lowest level in 20 years last year, Schafer said.
Every year farmers sign a contract with the refinery that
commits them to a certain number of acres to guarantee the
factory a certain amount of beets. Lately low prices were
enough to cause farmers to consider diversifying into more
profitable crops.
Holly Sugars parent company, Imperial Sugar, is in Chapter
11 reorganization. It is the largest U.S. processor and
marketer of refined sugar under brands including Imperial,
Spreckels and Holly.
The 157-year-old Sugar Land, Texas-based company struggled
throughout 2000 with depressed commodity prices and a glut of
sugar. It also blamed high energy prices for inflating costs.
Most beets planted across the nation this year are expected to
be processed at co-op factories. The Torrington refinery is
not feeling any pressure to become a co-op, at least for now,
Schafer said.
I dont know what the future will be, whether it will be
co-op or closing. Its hard to say and depends on the price
of sugar and energy, he said.
The refinery is the largest employer in the Torrington area,
with 110 year-round workers and 400 during the processing
season.
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