World news

Germany’s second-largest sugar refiner Nordzucker on Tuesday was the latest European producer to report a slump in earnings following a collapse in prices. It is reported by Reuters. Unlisted Nordzucker said net profit fell to about 17 million euros ($19,6 million) in the nine months to end November 2018 from around 143 million in the same year-ago pe...

Indonesia sets raw sugar import quota of 2,83 million tonnes for industrial use in 2019, Trade Ministry official said on Friday. It is reported by Reuters. The quota will be reviewed every three months and adjusted if needed, said Oke Nurwan, director general of international trade. Indonesia has set raw sugar imports quo...

Nordic Sugar Kedainiai, a Lithuanian company own by Nordic Sugar, one of the largest sugar producers in Europe, plans to invest 12 mln euros into its plans upgrade. It is reported by The Baltic Course with the reference to LETA/BNS. Around 5 mln euros will be investment into a new sugar beet handling and washing technological line, and around 7 mln e...

India’s sugar production could fall in 2019/2020 as farmers are struggling to plant cane because of a drought in two of the country’s top producing states, according to multiple industry officials and traders. It is reported by Reuters. A drop in production would slash exports from the world’s second-biggest sugar producer and support global prices that have fallen 15 percent so far in 2018. &la...

Kenya sugar production increased by 45 percent in the year to October following improved supply of raw material in the factories. It is reported by Business Daily. A monthly Sugar Directorate report indicates the quantities produced between January and October increased to 411,567 from 284,036 in the corresponding period last...

The Executive Secretary of the National Sugar Development Council, Latif Busari, says Nigeria needs about 250,000 hectares of land for sugarcane cultivation and 28 factories of varying capacities to become self-sufficient in food and industrial demand for sugar. It is reported by Daily Trust. He said Nigeria had the potential of becoming a net exporter of sugar if the capacity of the existing sugar plants was enhanced; and new plants established and sugarc...

United States domestic sugar demand will be smaller than the USDA forecast for 2018-19, a closely-watched North American trader said on Thursday. It is reported by Successful Farming. Domestic demand will stand at 12,2 million tonnes, Jenkins Sugar Group (JSG Commodities) president and veteran trader Frank Jenkins forecast, below USDA expect...

Energy prices in Brazil should be the core driver of world sugar prices in 2019, COFCO head sugar trader Jose Eduardo Toledo said. It is reported by Reuters. Brazil has dedicated a growing share of its annual sugarcane production to ethanol this season as global sugar prices have stagnated. For the country’s 2019/20 c...

Brazilian sugar companies are increasing their capacity to produce ethanol in the face of depressed global sugar prices and government policies expected to boost demand for the biofuel. It is reported by Reuters. A shift to ethanol in the 2018-19 season slashed Brazil’s sugar output by 9 million tonnes to a 12-year low and more switching to the biofuel next season could help...

India’s biggest sugar producing state, Uttar Pradesh, will keep prices that mills must pay to cane growers on hold in the current season. It is reported by Reuters. In India, the world’s biggest sugar consumer, the federal government fixes the price that cane growers receive each year, but Uttar Pradesh’s state government...