International News

January 19, 2015
Sugaronline

Louis Dreyfus Commodities' Imperial Sugar Co and AmCane Sugar LLC have asked the U.S. government to continue its anti-dumping and countervailing investigations on sugar from Mexico, U.S. Department of Commerce filings show, according to Reuters.

The requests represent the shoring up of challenges launched the week before last by the two companies to a pact finalized by the United States and Mexico to end a dispute over sugar that has plagued the North American marketplace for nearly a year.

January 18, 2015
The Asian Age
By Faisal Malik

The Devendra Fadnavis-led BJP government has made several demands to the Centre to help Maharashtra’s crisis-ridden sugarcane industry. These include rescheduling of loans for sugar mills, subsidy on export of raw sugar and increasing the import duty on raw sugar. However, the government has got no immediate relief from the Centre, as Union finance minister Arun Jaitley has assured that a decision in this regard would be taken by January 21.

ICE benchmark raw sugar futures are poised for a bullish ride, potentially propelling prices to 17 cents per lb after the market defied the day's weak trend on the commodity complex and surged above a downtrend line on Thursday, according to Reuters.

The most-active March contract on ICE Futures US vaulted more than 2% to a five-week high at 15.38 cents per lb, breaching the downward trendline from the Oct. 9 high around 15.10 cents.

January 15, 2015
Reuters
Reporting by Roberto Samora; Writing by Caroline Stauffer
 

SAO PAULO, Jan 15 (Reuters) - Raizen, the biggest sugar and ethanol producer in Brazil, said on Thursday it will stop production at its Bom Retiro mill in southeastern Brazil for two years because severe drought had caused a shortage of cane.

A joint venture between Brazil's Cosan (NYSE: CZZ - news) and Royal Dutch Shell, Raizen plans to use nearby mills in the interior of Sao Paulo state to crush cane that would normally be processed at Bom Retiro.

January 14, 2015
Agrimoney

Shares in Suedzucker tumbled after it warned that a slump in sugar earnings was, besides threatening its ability to meet profits targets for this financial year, to "weigh heavily" on next year's performance too.

Suedzucker, Europe's largest sugar producer, said that while it was sticking by its guidance for sales of E7.0bn for the year to the end of February, a drop of 7%, it faced a "challenge" to meet a target of  E200m in operating profits – a drop of 62% year on year.

January 13, 2015
The Economic Times

MUMBAI: Shares of sugar companies gained momentum in a weak market following reports that the Cabinet may increase raw sugar subsidy to about Rs 4,000 per tonne. 

The hike is subsidy is being worked out to lower large stockpiles after fifth straight year of bumper crop. The local prices have been affected due to surplus and its hurting finances of sugar mills. 

With the help of the incentives, mills say they will be able to sell raw sugar to standalone refineries in Asia and Africa. 

January 12, 2015
CNN
By Diane McCarthy

(CNN)In the gentle yet fiercely warm surrounds of the southern Ugandan countryside, Mwanja Banuli looks on as farmhands fill his truck with sugar cane.

Packing this rough, woody crop is heavy going and making sure every inch of space is utilized is key. Transport costs money, after all, and this humble sugar farmer has lots of costs to consider.

"There are many challenges in this business," Banuli says. "Rent for our land costs about $300 and then you need to pay people to clear the land.

January 09, 2015
BusinessDay
By Odinaka Anudu

To end product import and tap into the growth spurt in the fast-moving consumer goods (FMCG) market, Nigeria’s sugar investors are expanding plantations as they aggressively acquire large expanses of land, while also developing new varieties of sugar cane , BusinessDay has gathered.

January 08, 2015
Reuters
By Chris Prentice

Louis Dreyfus Commodities' Imperial Sugar Co and AmCane Sugar LLC have challenged the U.S.-Mexico trade deal, warning that the pact potentially harms domestic sugar refiners and prolonging a long-running dispute between the two countries.

NEW DELHI: India's cabinet could soon approve an increase in the raw sugar subsidy paid to mills to about 4,000 rupees ($64) per tonne as it looks to cut large stockpiles, two government sources with direct knowledge of the matter told Reuters. 

India, the world's biggest producer behind Brazil, paid a subsidy of 3,300 rupees to produce and export raw sugar in the season that ended in September. 

The subsidy proposal will soon go for approval to Prime Minister Narendra Modi's cabinet, the sources said.