News

Canal Sugar, owned by Dubai-based Al Khaleej Sugar Refinery, plans to complete a beet sugar factory - designed to be the world’s biggest - in Egypt’s west Minya in October 2020. It is reported by Reuters. The UAE’s Al Khaleej Sugar Refinery is the world’s largest port-based sugar refinery. Production at half capacity is expected to begin in 2021 and reach fu...

Farmers who own shares in Australia’s Mackay Sugar have voted to accept a takeover offer from Germany’s Nordzucker, helping secure the company’s future against a backdrop of depressed world sugar prices. It is reported by Reuters. The offer was approved by a 75% majority of Mackay’s shareholders, they said in a statement on Monday. Unlisted Nordzucker, Germany’s second-largest sugar...

Monsoon rains were 35% below average in the week ending on Wednesday, with little rainfall over the central, western and northern parts of the country, the weather office said, raising concerns over the output of summer-sown crops. It is reported by Business Standard. Monsoon rains are crucial for farm output and economic growth as about 55% of India's arable land is rain-supplied and agriculture forms about 15% of a $2.5...

India will build a buffer stock of 4 million tonnes of sugar in an attempt to cut a surplus of the sweetener and support local prices that are under pressure due to record production, the government said in a statement on Wednesday. It is reported by Reuters. The world’s second biggest sugar producer will spend 16,74 billion rupees ($242,68 million) on buffer stocks in the year starting Aug. 1, it said. India had a bu...

Egyptian Agriculture Minister Ezzeldin Abusteit said on Monday that the sugar crop production in Egypt this season amounted to about 2,48 million tonnes, marking an increase of about 320,000 tonnes compared to the previous year. It is reportyed by Egypt Independent. Abusteit said in a statement that this season marks a record amount for Egypt. The national production was recorded at 2,16 million tonnes the previous year....

Philippines sugar production as of the third week of June rose 0,23% year-on-year, the Sugar Regulatory Administration (SRA) said. It is reported by Business World. By the third week, the agency reported that sugar production was 2,069 million metric tons (MMT), up from 2,064 MMT a year earlier. This is equivalent to 41,39 mil...

A senior contractor working with the Iranian ministry of agriculture says the country’s sugar output nearly halved in the last Iranian calendar year which ended in March. It is reported by Presstv. Alireza Yazdani said on Monday that a main reason for increased imports of sugar to Iran over the past months has been the fact that the domestic sugar production decreas...

Aviva Santander (Poland) Opened Pension Fund informed Astarta Holding NV about the sale of its stake in the company. It is reported on the Warsaw Stock Exchange. Aviva's share dropped below 3%. Before this agreement, as of July 9, 2019, Aviva OFE owned 786 106 shares in the company, representing 3,14%...

The Fiji Sugar Corporation has crushed nearly 150,000 tonnes of cane at its Lautoka and Labasa mills. It is reported by FSC news. With mechanical stops to date, it has lowered by 40 percent than last year. FSC Chief Executive Officer, Graham Clark says their sugar recovery results were also impr...

Thailand is expected to produce around 13 million tonnes of sugar in the upcoming growing season, down 7% from a year earlier, the country’s cane and sugar body said on Tuesday. It is reported by Reuters. «Scant rainfall and decreased acreage in the world’s second-largest sugar exporter would cut cane output in the 2019/20 season, which begins around November,...