World news

Biosev, the Brazilian sugar and ethanol unit controlled by commodities trader Louis Dreyfus, is open to market opportunities including the potential sale of additional mills, Chief Executive Officer Juan José Blanchard said on Wednesday. It is reported by Reuters. The company sold a mill in September and hired financial advisers to evaluate additional asset sales, as it seeks to reduce a large debt. «We are working careful...

Mauritius has cut its 2018 sugar output forecast for the second time in two months due to a lack of rainfall, the country’s Chamber of Agriculture said on Tuesday. It is reported by Reuters. The Chamber said it now expects production of 324,000 tonnes this year, down 1,8 percent from its 330,000 tonne forecast in September, which was also a reduction. &laq...

Brazil's center-south is expected to produce 26,38 million tonnes in the 2018/19 season — the lowest amount in 12 years due to a smaller cane crop and higher ethanol production, Datagro consultancy said on Tuesday. It is reported by Nasdaq. Datagro's previous estimate for the season was for production of 27,28 million tonnes. It projected the new sugar season, which starts in April next year, at a similar...

Sri Lankan importers have temporarily stopped importing sugar after the government hiked import duty and imposed a maximum domestic retail price, which made imports uneconomical, market sources said. It is reported by S&P Global Platts. The Consumer Affairs Authority (CAA) of Sri Lanka fixed the maximum retail price for white sugar at Rupee 100/kg on October 12, which is equivalent to $578,...

A continuing lack of rain in Europe has slowed sugar beet harvesting as farmers struggle to lift the crop from parched soil, which could further shrink yields this year. It is reported by Reuters. An unusually warm and dry start to autumn has exacerbated summer drought conditions in parts of Europe and has dashed hopes in some crop belts that sugar beet plants woul...

Biosev SA, the Brazilian sugar and ethanol producer controlled by global commodities trader Louis Dreyfus, is in talks to sell more assets in the country as it seeks to cut debt. It is reported by Reuters. Biosev, which announced the sale of a sugar and ethanol mill a month ago, hired Datagro Financial, the financial services division of Sao Paulo-based consultancy Datagro,...

Indonesia expects nine new sugar mills to start operation in 2020. Agriculture Minister official Syukur Iwantoro told on Wednesday, reported Reuters. Each mill will have crushing capacity of 10,000 tonnes of cane per day, Iwantoro said. New mills will be locate...

A total of 27,64 million tonnes of sugarcane were crushed in Center-South Brazil during the second half of September, down 28,2% from the 38,51 million tonnes crushed in the first half of September, and down 31,7% from 40,46 million tonnes crushed in the year-ago period, according to data released by trade association UNICA. The volume crushed was about 280,000 tonnes below market expectations, according to an S&P Global Platts survey of analysts. «This is the first fortnight in which the milling of the curre...

France’s farm ministry on Tuesday cut its estimate of the country’s 2018 sugar beet crop to 40,4 million tonnes from 41,1 million last month as it lowered expected yields. It is reported by Business Recorder. The reduced sugar beet crop estimate was 12,7 percent below last year’s volume but 8,8 percent above the five-year average.

A fire last week at a Saint Louis Sucre plant in northern France has delayed the start of beet processing by around a month, parent company Suedzucker, Europe’s largest refiner, said on Wednesday. It is reported by Reuters. The start of the annual production run was initially set for September 24 but the fire caused serious damage and experts’ appraisals were ongoing, a person clo...