The head of American Crystal Sugar Co. says it’s likely that most shareholders in the sugar beet cooperative will lose money this year.
A 71-year-old Chaska man died Tuesday after suffering injuries in a head-on collision on Highway 13 in the south metro. The State Patrol says the crash happened just after 4: 30 p.m. in Burnsville.
Low sugar prices are cutting into payments to farmers at American Crystal Sugar Co. The Moorhead-based cooperative is telling its growers to expect a “massive reduction” in payments for this year’s beet crop. In a company blog, American Crystal CEO David Berg says growers will be paid just $38 per ton. Last year, Crystal’s farmers were paid more than $68 per ton. KFGO-AM reports Berg says most of Crystal’s growers will lose money, and in many cases, “they will lose a lot of money.”
Locked-out American Crystal Sugar Co. workers say they were surprised by the amount of security at the company’s annual shareholder meeting, but Crystal’s leader downplayed it.