Well, If you start speculating on what could have been done with the acres, raw material or final product, nothing but salt water, and perhaps not even that, would be entirely correct to use for racing when you think about it.
Just imagine what those waste products you mention could be used for, why should it have been thrown away in the first place? Not to speak of the sugar, which makes people fat and erodes their teeth, shouldn't be produced at all and the land used for healthy food production!