American Crystal sees rise in revenueAmerican Crystal Sugar said its net revenue for the current fiscal year totaled $1.23 billion, up from $1.22 billion in 2007.
FARGO (AP) — American Crystal Sugar said its net revenue for the current fiscal year totaled $1.23 billion, up from $1.22 billion in 2007.
Fiscal year 2008 represents sugar beets harvested in 2007 and processed this year.
The Moorhead, Minn.,-based cooperative has said its 2007 harvest totaled 11.6 million tons, the second largest on record.
President and Chief Executive Officer David Berg told Crystal’s annual meeting that heavy rain this fall left some fields too muddy and hurt the outlook for fiscal 2009.
He said American Crystal expects to plant in the range of 400,000 acres to 425,000 acres of sugar beets next year. It planted 421,000 acres this year, down from 500,000 acres in 2007.
The cooperative has about 2,900 shareholders and 2,000 employees.
It has processing plants in Hillsboro and Drayton in North Dakota, in Moorhead, East Grand Forks and Crookston, Minn., and in Sidney, Mont.