According to Südzucker boss Niels Pörksen, sugar will become significantly more expensive.

"That is already visible today," said the CEO of the daily newspaper "Mannheimer Morgen".

Poerksen made it clear that the costs for growing sugar beet and for energy were increasing.

"If there was no price increase, it would be difficult to come out of the deal positively," he told the newspaper.

The Südzucker Group recently raised its forecast for the year as a whole.

The Mannheim-based sugar and food giant is now aiming for consolidated operating profit of EUR 400 to 500 million in the 2022/23 financial year (end of February).

Previously, 300 to 400 million euros were planned.

A value in the range of 8.9 to 9.3 billion euros is expected for sales.