World news


Tereos reduced its earnings by 29%

French cooperative group Tereos, one of the world’s largest sugar makers, reported a fall in quarterly earnings as historically low prices outweighed stronger volumes following the liberalisation of the European sugar market. It is reported by Reuters. Tereos’ adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter of its 2018/19 financial year came to 84 million euros (...


India extends deadline for sugar exports by 3 months

India has extended the deadline for export of 2 million tonnes sugar by three months to December. It is reported by Reuters. The world’s second-biggest sugar producer has been trying to reduce sugar stocks after harvesting a record crop. India’s sugar production is expected to ju...


Bunge sold its sugar subdivision to Wilmar

Bunge Limited announced it has completed the sale of its international sugar trading operations to Wilmar Sugar Pte. Ltd. It is reported by Bunge. Financial terms were not disclosed. Bunge has been negotiating about the sale of sugar assets in Asia. The expected deal will provide Wilmar access to the Thailand marke...


Minnesota sugar beet yields seen down 4%

The Minnesota sugar beet crop is expected to be smaller this year, due to the long winter and rainy start to the summer. It is reported by StarTribune. Yield forecasts are down more than a ton per acre — a decline of about 4 percent, according to the U.S. Department of Agriculture — as farmers gear up for...

 
Fiji sugar mills processed more than 400 thousand tonnes of cane

Over 400,000 tonnes of cane have so far been crushed by the three sugar mills. It is reported by FBC. Fiji Sugar Corporation Chief operating officer, Navin Chandra says that this has produced over 40,000 tonnes of sugar. Chandra says they are happy with how things have pro...

 
Mexico sets sugar export quota to the United States

Mexico’s government said on Wednesday it has set a sugar export quota to the United States of 750,876.9 tonnes for the cycle that runs from Oct. 1, 2018 to Sept. 30, 2019. It is reported by Reuters. Mexico is the top foreign sugar supplier to the United States, a coveted 12 million-tonn market where the U.S. government doles out export quotas to about 40 sugar-p...

 
South Africa hikes sugar import duties

South Africa has raised import duties on sugar to $680 from $566 a tonne to protect the domestic industry against a surge in imports, the trade and industry minister said on Wednesday. It is reported by Reuters. The South African Sugar Association applied in February to have the tariff raised to $856 a tonne, but the International Trade Administration Commission of South Africa (...


The EU sugar beet yield can significantly reduce due to hot, dry summer

Scorching weather that parched farmland across northern Europe has also stressed sugar beet plants and could push yields in the European Union’s harvest well below last year’s bumper levels. It is reported by Reuters. The EU’s executive had already projected a fall in sugar production in 2018/19 after heavy rain delayed spring planting, and a hot summer in top producing countries...

 
Brazilian group «Cosan» posts 64,3 mln reais loss

Brazil’s energy and logistics group Cosan SA Indústria e Comércio posted a quarterly net loss of 64,3 million reais ($17,05 million) on Wednesday, slightly better than the 76 million reais loss a year earlier, the company said in a market filing. It is reported by Reuters. Cosan, which is a partner of Royal Dutch Shell Plc in the 50-50 joint venture Raízen, the world’s largest sugar producer, reported an Ebitda of 803 million r...

 
Brazil sugar production continues to reduce

Brazil’s center-south is likely to produce an even smaller amount of sugar next year after a sharp drop reported in the current crop, as a harsh drought and reduced crop care will lead to a poor cane harvest, according to industry representatives. It is reported by Reuters. The world’s largest sugar producing region is expected by most analysts to cut output in the current crop, which runs from April 2018 to March 2019, to around 28 mi...

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