World news

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...

The European Commission has cut its forecast for sugar production in the European Union in 2018/19 to 20,1 million tonnes from a previous projection of 20,4 million tonnes. It is reported by Reuters. «Planting for the 2018/19 sugar marketing year was delayed in many countries due to wet and cold weather in March, — the Commission said in its summer 20...

Russia first sugar beet test since the beginning of the year shows weight losses. It is reported by Reuters. Russia's sugar beet test, the first since the start of the year, showed an average root weight at 81 grammes compared with 92 grammes in July last year, the Russian S...

Brazil's Copersucar, the world's largest sugar and ethanol seller, expects smaller sugar production in the Brazilian center-south region in the current season due to ageing cane fields and drier weather and sees a more positive outlook for sugar prices.  It is reported by Reuters. Copersucar expects total sugar production in the center-south in 2018/19 to be 28 million tonnes versus 36 million tonnes in the previous crop, company Chief Execut...

Biosev SA, the Brazilian sugar and ethanol company controlled by commodities trader Louis Dreyfus, posted a net loss of 1,27 billion reais ($341,73 million) in the 2017-18 cane crop season. It is reported by Reuters. The net loss widened sharply from a loss of 600 million reais in the previous crop. This is the first earnings report Biosev has released since closing two deals that boo...

Iranian state purchasing agency the Government Trading Corporation of Iran (GTC) has issued another international tender to buy 60,000 tonnes of raw cane sugar, European traders said on Wednesday. It is reported by Reuters. The tender closes on July 24 and offers are to be made in euros. Origin is optional and shipment is sought in September. The GTC previously issued another tender for 6...

The Philippines said on Monday it will import up to 200,000 tonnes of sugar to fill a shortage in domestic supply that has fuelled a spike in prices. It is reported by Reuters. The Southeast Asian nation is not a regular sugar importer, but it usually buys from Thailand, the world's second-largest exporter after Brazil. The last time the Phi...