Illovo Sugar and Tongaat Hulett yesterday reported weaker full-year profits, blaming softer global prices and lower output, sending their shares sliding. Lower export prices to key sales regions such as the EU were worsened by the weakening of the euro and the Brazilian real, as well as by weaker production in South Africa.Shares in Illovo dropped 8% to R969, their lowest in six years and the biggest daily fall since 2004.Smaller rival Tongaat fell 0.7% to R174.The sugar industry has grown increasingly competitive in recent years because of excess supply and a crowded marketplace.World sugar prices are languishing at near their lowest in more than six years, below 13c a pound.The South African sugar producers said they were forced to sell their commodity at a loss because of low prices and high operating costs. Countries such as Brazil produce more cheaply and flood the market.Illovo said tough global markets were offset by stronger demand in South Africa and Tanzania after the governments in those countries took import protection steps against cheap and smuggled sugar. ..