||The European sugar market has undergone a turbulent development in recent years, caused mainly by the reform of the Common Agricultural Policy and related reform of the Common Market Organization for sugar. The goal of this thesis is to analyze the impact of such an unstable environment on an economy of a chosen sugar producer, the company Cukrovary a lihovary TTD, a.s. The first part discusses the situation on the sugar market including the impact of WTO regulations, the origin and process of the sugar reform as well as the development of sugar market in the Czech Republic after 1989. Next comes detailed description of the Czech sugar industry, including inputs, outputs and competition. The final part analyses the chosen company through the use of financial ratios, concentrating mainly on liquidity, efficiency, debt and profitability of the corporation.