World news

 
Philippines increases need for sugar imports

In 2019/2020 MY, the Philippines sugar production will continue to decline and consumption will increase, so the need for sugar imports will increase. Local raw sugar production slightly declined last month to 2,07 million tonnes, but still within the target set by the Sugar Regulatory Administration. While local sugar supply has met industry tar...

 
Brazilian mills slash sugar hedging to lowest level in eight years — Archer Consulting

Brazilian sugar producers have hedged only 58% of their expected exports in the current season, the lowest level in eight years, as low prices reduce the use of futures contracts by mills as a way to guarantee future revenue. It is reported by Nasdaq. According to a report released on Wednesday by Brazil-based Archer Consulting, Brazilian sugar companies have sold forward in New York's ICE the equivalent of around 1...


Lower production expected to tighten global sugar supply — ISO

World sugar supplies are expected to tighten as production declines in 2019-20, but large stocks and indications of declining demand growth may limit recovery in a market battered by low prices, said Jose Orive, executive director of the International Sugar Organization. It is reported by BakingBusiness. «World sugar prices have hit bottom, and signs are pointing to a recovery», — Mr. Orive said Aug. 5 on a panel at the 36th annual International S...

 
In United Kingdom sugar beet producers may quit crop after neonicotinoid ban

With yields plunging, sugar beet growers in United Kingdom may discontinue growing crop in wake of neonicotinoid insecticide ban. It is reported by geneticliteracyproject. Sugar beet is a crop that has always demanded close attention to grow well, but Norfolk grower Mark Means has taken that meaning to a whole new level....


Green Pool raises 2019/20 global sugar deficit forecast

Analyst Green Pool has raised its forecast for an anticipated global sugar deficit in the 2019/20 season to 3,67 million tonnes from a previous projection of 1,62 million tonnes. It is reported by Reuters. The Australia-based analyst said on Friday that the main changes to its balance sheet were reductions in crop forecasts for Centre-South Brazil and India. Sugar produc...

 
Egypt's Canal Sugar plans to complete the largest in the world beet sugar factory in 2020

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...


Australia’s Mackay Sugar accepts Nordzucker takeover

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...

 
India's monsoon rains 35% below average

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 to build buffer stock of four million tonnes of sugar

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...

 
Egypt sugar output increased by 15%

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....

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