World news

Brazil’s largest sugar-producing region is suffering from a second year of record drought, threatening to cause another short crop in 2022/23 that could prolong high sugar prices. It is reported by gro-intelligence. The Gro Drought Index (GDI) shows that sugarcane-growing areas of São Paulo state, which produces more than half of Brazil’s total sugarca...

Europe's largest sugar producer Suedzucker confirmed a rise of about 90% in third quarter operating profit on Thursday as an improved sugar market boosted earnings. It is reported by Reuters. Suedzucker said operating profit in the three months to Nov. 30 rose to 127 million euros ($145.30 million) on sales up 17.4% to 2.04 billion euros. Suedzucker repeate...

Chinese sugar imports will remain low and sharply below last year's levels, despite the recent weakness in raw sugar futures, as the sweetener's prices in China fall and ocean freight stays expensive, sugar consultancy CovrigAnalytics said on Tuesday. It is reported by Reuters. «The drop in Chinese domestic prices is not surprising as domestic production is picking up and on a seasonal basis shall reach a peak by the end of January»,...

Indian sugar mills have produced 11.56 million tonnes of sugar in the first three months of 2021/22 marketing year, up nearly 4.3% from the same period a year earlier, a trade body said. It is reported by Nasdaq. India is the world's second-biggest sugar producer and the higher output could weigh on global prices. Sugar mills have so far contracted to export about 4 million...

French sugar and ethanol group Tereos said on Monday its subsidiary Tereos Finance Groupe I intended to issue 300 million euros ($340.17 million) in senior unsecured notes, subject to market conditions, to repay some of its existing debt. It is reported by Reuters. The bond would be due in 2027, it said in a financial release posted on its website. The group had already issued similar notes in October 2020, due in 2025. Tereos, t...

The Thai sugar market is eyeing a return to strength in 2022 after two consecutive years of drought, but will likely face logistical challenges in securing freight to export its surplus supply to buyers in the region as well as competition from cargoes from India and Brazil. It is reported by S&P Global Platts. Thailand's crop prospects for the marketing year 2021-22 (October-September) are expected to improve after increased rainfall in September, and exp...

Philippines’ sugar production continued to rise in the first week of December, rising by 13.17%. It is reported by philstar. Data from the Sugar Regulatory Administration (SRA) showed that raw sugar production reached 461,486 metric tons (MT) as of December,  up from 407,770 MT in th...

A World Trade Organization panel ruled that India violated international trade rules when it offered excessive subsidies for the production and export of sugar and sugarcane. It is reported by Reuters. India’s policies were inconsistent with WTO rules that govern the levels at which nations can subsidize domestic agricultural production, according to a decisi...

Sugar production in the second half of November in Brazil's key Center-South region is expected to total 142,000 tonnes, a 67% drop from the same time a year ago. It is reported by S&P Global Platts. Reduced sugar production can be mostly attributed to the second consecutive year of below-average rainfall in the region, as well as frost and a lack o...

China's agriculture ministry cut estimates for 2021/22 sugar beets output, based on the newly released statistics data, the ministry said on Thursday. It is reported by Reuters. China cut estimate for 2021/22 sugar beet planting acreage and output, after cold snaps hit the crop in Xinjiang region, while some farmers in Inner Mongolia region chose...