World news

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 (...

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...

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’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...

Qatar is planning to launch a sugar processing plant at the latest by 2020 to strengthen its independence. It is reported by Middle East Confidential. The project, according to two sources, will be having a production capacity of 110,000 tonnes of sugar a year, way beyond domestic demand estimated at 80...

All three sugar mills in Fiji have commenced the 2018 crushing season with over 180,000 tonnes of sugar cane crushed by 23-rd July. It is reported by fijivillage. The Fiji Sugar Corporation in a statement revealed that this is 9% above what was crushed for the same period in 2017. It adds that the Labasa Mill has crushed 123,09...

The CEO of Suedzucker, Europe’s largest sugar refiner, said on Thursday trading conditions remain tough but that he sees potential for a recovery in depressed global sugar prices. It is reported by Reuters. «In the sugar segment we are currently operating in a difficult environment with worldwide production overcapacity and extremely low prices with which hardly any su...

China will levy extra tariffs on out-of-quota sugar imports from all origins starting from Aug. 1, the Commerce Ministry said on Monday, just over a year after introducing hefty penalties on top growers including Brazil and Thailand. It is reported by Reuters. In May last year, the government hit major exporting nations with penalties on sugar shipments after years of lobbying by domestic mills. It still exempted 190 smaller pr...

Brazil will study whether to file a formal complaint at the World Trade Organization over Chinese barriers to Brazilian sugar, the government said on Wednesday. It is reported by Reuters. China imposed duties on imports of Brazilian sugar in May 2017, saying a surge in imports had substantially damaged its local industry. The head of Brazilian sugarcane...

Suedzucker reported a 49 percent drop in first-quarter operating profit which Europe’s largest sugar refiner blamed on a slump in prices. It is reported by Reuters. Operating profit for the March-May quarter fell to 78 million euros ($91,14 million) from 153 million a year earlier. Sales fell to 1,741 billion euros from 1,783 billion...