Can't be good news going into earnings season Rogers Sugar Inc. (RSI-T) announced that “due to the impact of recent severe adverse weather in Alberta on the 2019 sugar beet crop, a decision has been made to terminate the beet harvest.”
The company said the decision was made following "an exhaustive analysis by the Alberta Sugar Beet Growers and the corporation, which jointly determined that severe snow and frost damage has resulted in an inability to store or process the unharvested damaged sugar beet crop."
As a result, the company now estimates that the current crop should derive a quantity of refined sugar ranging between 60,000 metric tonnes to 70,000 metric tonnes. The company said it's "reviewing all available options to service its customers, one of which will include the supply of cane sugar from the Vancouver and Montral refineries, which both have excess capacity."