FARGO, N.D. (AP) - The head of American Crystal Sugar Co. says it's likely that most shareholders in the sugar beet cooperative will lose money this year.
Company President and CEO David Berg says the poor financial results are due primarily to poor yields and Mexican sugar flooding the U.S. market. He says the beet payment for the current crop is a ''miserable $37 a ton.''
Berg says there are signs of better days ahead. He says the sugar industry has prevailed in its illegal trade case against Mexico and the two governments are negotiating changes that should improve the market.
Berg says the company's long-term financial health remains strong.
The joint annual meeting of American Crystal Sugar and the Red River Valley Sugarbeet Growers Association is going on Thursday in Fargo.