News

Europe's largest sugar producer Suedzucker (SZUG.DE) on Thursday posted a rise of about 230% in quarterly earnings and confirmed increased profit forecasts for its new fiscal year despite the impact of the war in Ukraine. It is reported by Reuters. Suedzucker said operating profits in the first quarter of its new 2022/23 year starting on March 1 rose to some 163 million euros ($166.23 million) from 49 million euros...

«Agrarian front: strategy of the victory» — the meeting of «Ukrprominvest-Agro» team with partners in sugar beet cultivation took place under this leitmotif. It is reported on the company's Facebook-page. More than 70 agricultural producers gathered in Vinnytsia at the invitation of UPI-AGRO to talk about the prospects of growing sugar beet, familia...

The EBRD is boosting food security in wartime Ukraine by backing more than half the risk of a revolving working capital loan for UAH 330 million (€10.5 million equivalent) to Astarta Group, one of the country’s major agricultural and food processing businesses, through an agreement with Raiffeisen Bank  (RB). The share of the risk the EBRD takes on comes to €6.3 million. It is reported by press center of the company. The EBRD’s risk-sharing instruments enhance local financiers’ capacity to provide access to finance for Ukrainian private companies operat...

The Antimonopoly Committee of Ukraine granted permission to A'SPIK Group to acquire ED&F Man subsidiary. It is stated in the message of the AMCU, AgroPortal reports. «Agro-Orms» LLC has got a permission to acquire a stake in the authorized capital of «Ukrainian Sugar Company» L...

German sugar producer Suedzucker (SZUG.DE) plans "significant" price hikes to offset rising costs and prepares to shift to coal as Russian gas supplies to Western Europe slow in the wake of the Ukraine war, the Mannheimer Morgen newspaper reported. It is reported by Reuters. «The costs of beet cultivation and energy are rising, and these are two significant blocks of production», — Chief Executive Niels Poerksen said in an i...

Sugar production in the key Center-South Brazil region is expected to total 2.4 million mt in the first half of June, reflecting an increase of 7.7% on the year, an S&P Global Commodity Insights survey of 12 analysts showed June 23. It is reported by S&P Global Platts. During the survey, the cane crush estimate ranged from 39.4 million mt to 45 million mt. The average estimate was for a total cane crush of 42.2 millio...

India could start sugar's new marketing year on Oct. 1 with carry forward stocks of 6.2 million tonnes even after exporting a record 10 million tonnes, the top official at the food ministry said on Wednesday. It is reported by Reuters. On Tuesday India imposed restrictions on sugar exports for the first time in six years by capping this season's exports at 10 million tonnes. New Delhi had decided...

Egypt has sugar reserves sufficient for more than six months. It is reported by zawya. Mostafa Abdel Gawad, head of the Sugar Crops Council, said that the expected production of sugar during 2022 will be at 2.8 million tonnes, down from 3 million tonnes...

As the crop year is set to end in a few months, the country’s sugar output remains on the downtrend due to unfavorable weather conditions coupled with the damages caused by a typhoon late last year, according to the Sugar Regulatory Administration (SRA). It is reported by philstar. In a circular letter addressed to various sugar industry groups, SRA Administrator Hermenegildo Serafica said the country’s sugar production reached only 1.8...

If before the war experts were skeptical about the prospects of biogas, then in condition of energy shortages, the processing of crop products into alternative energy sources may become a new trend. Thus, the attitude to the prospects of sugar production may change, Agravery reports. Serhiy Shcherban, SOLAGRO Group Elevator Manager, says: «Sugar factories are an underestimated topic. This is a source for biogas. In addition, it is ideal to combine corn processing with i...