World news

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...

Tereos, one of the world’s largest sugar makers, is seeking to cut its sugar beet production next year by 5% and has asked its cooperative members to reduce plantings, citing difficult market conditions. It is reported by Reuters. A surge in output after the European Union abolished production quotas last year and a 50-percent slump in prices since early 2017 in an oversupplied world market have le...

This opinion was expressed by sugar market analyst of S&P Global Platts (Kingsman) Daniel Rebello during the first «Sugar Trade and Export Conference». «Global sugar prices continue to decline due to structural surplus, slowdowns in consumption, speculative sales, stable U.S. dollar and macroeconomic environment. Besides, sugar surplu...

Next season, the total sugar production in Russia, Ukraine and Belarus will decrease by 6% comparing with MY 2017/2018, but export potential will be unchanged. Marina Sidak, the head of analytical service (CIS) Sucden expressed such a view during the first «Sugar Trade and Export Conference». «In MY 2018/2019 in Ukraine and Russia there will be a decrease in sugar production by 5,5% and 11% respectively, but Belarus sugar production is forecasted to grow by 13%. At the same...