World news


ISO sees global sugar deficit of 2,55 mln t in 2021/22

The International Sugar Organization (ISO) forecast a global sugar deficit of 2,55 million tonnes in the 2021/22 season, with a diminished outlook for consumption reducing the size of an anticipated shortfall. It is reported by Reuters. The inter-governmental body had previously forecast a global sugar deficit of 3.85 million in 2021/22. The ISO, in a quarterly market outlook, put global consumption i...

 
Algeria to introduce VAT tax on sugar

Algeria will impose a 9% value-added tax on white and raw sugar from early next year to reduce imports and address health issues, Prime Minister Ayman Benabderrahmane said on Saturday. It is reported by Reuters. OPEC member Algeria has been trying to cut spending on imports of food and other goods in a bid to narrow budget and trade deficits. «Algeria imports around 2 mi...

 
CS Brazil's sugar output plunges 51%

Sugar production in Brazil's Center-South region fell 50.6% on the year in the second half of October to 858,000 mt, data from Brazilian sugarcane industry group UNICA showed Nov. 10. It is reported by S&P Global Platts. Mills in CS Brazil crushed 17.02 million mt of sugarcane in H2 October, down 36.8% year on year, UNICA said. Sugar's share of the sugarcane crush for...

 
India's plans for 20% ethanol-blending will cut sugar subsidy

India's plans to blend 20% ethanol with petrol from April 2023 will help cut sugar export subsidies. Oil Secretary Tarun Kapoor told reporters on Thursday, as reported by Reuters. India on Wednesday approved a proposal to achieve 20% ethanol-blending with gasoline by 2025, five years ahead of its...

 
Energy crisis boosts global sugar prices

The global energy crunch is putting pressure on the sugar market as the world’s top exporters convert more cane into ethanol. It is reported by Bloomberg. Sugar hit a four-year high in October as energy supply shortages roiled commodity markets from magnesium to tomatoes. Facing rampant fuel inflation,...


ISMA lowered forecast for 2021/2022 sugar production in India

India is likely to produce around 30.5 million tonnes of sugar in the season which on Oct. 1, 1.6% lower than a previous industry estimate, a leading producers' body said on Thursday. It is reported by Nasdaq. The Indian Sugar Mills Association (ISMA) in June said mills were expected to churn out 31 million tonnes of sugar in the 2021/22 season. Estimates of higher diversion...

 
Michigan Sugar predicting a record sugar beet crop

The Michigan Sugar Company is predicting a record year for the beet harvest. It is reported by upnorthlive. According to officials, the record yield for the 2021 sugarbeet crop could be 34 tonnes of per acre, up from the previous record 31.64 tonnes per acre set in 201...

 
India needs to export more sugar without subsidy

India's mills need to export 6 to 7 million tonnes of sugar without government incentives in 2021/22 to bring down inventories and ensure domestic prices remain firm despite surplus production. It is reported by Nasdaq. Sugar exports by the world's second biggest producer could cap global prices SBc1LSUc1, which hit a 4-1/2 year high this month on expectations that supplies from...

 
Brazil's sugar production falls more than expected

Brazilian mills crushed only 19.69 million tonnes of sugarcane in the first half of October in the center-south, 46% less than a year ago, as rains hampered activities and companies end the 2021/22 season earlier due to lower cane volumes. It is reported by Nasdaq. According to industry group Unica, s ugar production in the period was at 1.14 million tonnes, 56% less than a year ago. Ethanol production was 1.23 billion liters, 40% le...

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