Sugar News - 17 Sep 2024

Argentina - 70.3% Of Sugarcane Harvested In Tucumán Amid Challenges
Brazil - Usina Investigated For Illegal Deforestation In Protected Area
Brazil - Ethanol Expected To Capture 25% Of Sustainable Aviation Fuel Market
Brazil - Morgan Stanley Cuts São Martinho Rating, Price Target To R$ 26.00
Brazil - Sugar Prices Boosted By U.S. Inflation Drop To 2.5%
Brazil - Fires Burn 400,000 Hectares
Brazil - Sugar Prices Rise 11.82% To R$ 140 In São Paulo
Brazil - Sugarcane Producers Defend 12,000 Against 10% Fire Loss
Paraguay - Cane Growers Block Route Py01 Demanding Sugarcane Ethanol Use
United States - New York Sugar Stabilizes At $19.78, March 2025 Hits 20.24

India - Govt Implements Rs 15 Lakh Crore Policies In First 100 Days
India - Smallcap Sugar Stock Dalmia Bharat Target ₹590, Current ₹480
India - Bjp Protests For Resumption Of Yatnal’S Sugar Factory Operations
India - Farmers Demand Sugarcane Price Hike To ₹500 Per Quintal
India - 55% Urban Households Prefer Sweets With 25-75% Less Sugar
India - India'S Kharif Sowing Reaches 1,096 Lakh Hectares Total
India - Domestic Sugar Prices Rise Rs 10; India Maintains Export Restrictions
India - Mysugar Aims For 250,000 Tons, 15.8% Ethanol Blending
Philippines - Philippine Sugar Millers Seek Exclusion From Uae Trade Agreement
Philippines - Philippine Sugar Imports Rise 15.7% To 1.1 Million Kg
Turkey - Turkish Sugar Sector Faces 7-8 Billion Lira Loss, Farmers Involved
Vietnam - International Sugarcane Conference Kicks Off With 200 Delegates

Africa - Oct Stockpiles Sugar Amid Rumors Of Shortage
Burundi - Sugar Prices Triple In Burundi From 3,300 To 8,000 Francs
South Africa - High Court Confirms Payment Obligations In South African Sugar Industry
Tanzania - Tanzania Aims For 802,000 Tonnes Sugar Production Support
Tunisia - Sugar And Rice Supplies: 35,000 Tons Until Year-End
Uganda - Museveni Intervenes As Sugarcane Prices Plummet To Shs90,000

France - Huguette Bello Attends Issct Workshop On September 16, 2024
Germany - Food Prices Surge: Olive Oil Up 112.6%, Sugar 83.3%
Germany - Südzucker Shares Drop 4.2% To €11.33 Amid Forecast Cuts
Poland - August Food Prices Down 4.3% From July, Sugar Down 25.7%

World - Beet Sugar Market Projected At $5.8 Billion By 2032

Argentina - 70.3% Of Sugarcane Harvested In Tucumán Amid Challenges
In Tucumán, 70.3% of sugarcane has been harvested, with significant activity in the eastern region. The harvest is projected to continue until November, with 30.1% remaining. However, 34,490 hectares have burned this year, up from 18,890 in 2023, though still lower than 71,000 in 2020. The strategy adapted to climatic conditions has mitigated potential impacts.(LV7 Radio Tucumán)

Brazil - Usina Investigated For Illegal Deforestation In Protected Area
The Mato Grosso do Sul Public Ministry has launched a civil inquiry into Usina Rio Amambaí for alleged illegal deforestation and sugarcane cultivation in protected areas at Fazenda São Jorge, 366 km from Campo Grande. Previous violations were noted in 2019. The company claims compliance with environmental laws, but investigations continue to assess potential damages and irregularities.(Campo Grande News)

Brazil - Ethanol Expected To Capture 25% Of Sustainable Aviation Fuel Market
Felipe Mendes, Tereos' director, emphasized ethanol's crucial role in global decarbonization during a discussion in São Paulo. He noted Brazil's competitive advantage in sustainable ethanol over the U.S. and Europe, highlighting opportunities in sustainable aviation fuel (SAF) and biogas. Mendes expects SAF to capture 25% of the market, with Europe increasing methanol blends from 2% to 10% in three years.(Canal Rural)

Brazil - Morgan Stanley Cuts São Martinho Rating, Price Target To R$ 26.00
Morgan Stanley revised its sugar supply and demand model, raising global production estimates despite tighter conditions in Brazil due to crop burning. For São Martinho, the recommendation was cut from equal-weight to underweight, with a price target reduced from R$ 35.00 to R$ 26.00. A surplus of 2.9 million tons is expected for 2023/24, with projected production of 186.2 million tons against demand of 183 million tons.(br.ADVFN.com)

Brazil - Fires Burn 400,000 Hectares
Fires have burned 400,000 hectares of sugarcane, particularly in São Paulo, causing a 7.2% productivity drop. Brazil's sugar production for 2024/25 is estimated at 39.2 MMT, contributing to a global deficit of -600,000 MT.(Notícias Agrícolas | Gazeta Brasil | Canal Rural | Inkl | Poder360 | Amazonia Press)

Brazil - Sugar Prices Rise 11.82% To R$ 140 In São Paulo
Sugar prices in São Paulo have risen to R$ 140 per 50 kg sack, the highest since May 2024, driven by reduced supply from drought and fires and slight demand improvement. Production in late August 2024 was 2.073 million tons, down 11.82% from 2023. Ethanol prices, however, fell to R$ 2.4061/liter, down 4.07%.(Revista RPA NEWS | Compre Rural | AGROemDIA | CenárioMT | Notícias Agrícolas | webtvparacatu)

Brazil - Sugarcane Producers Defend 12,000 Against 10% Fire Loss
The Organization of Sugarcane Producers of Brazil (ORPLANA) defended against false burning accusations, representing 12,000 producers. Meanwhile, Tereos reported 10% of its sugarcane fields, or 30,000 hectares, affected by fires, leading to a R$ 100 million loss and concerns over future productivity due to drought. The 2024/25 milling forecast remains over 21 million tons.(Agrolink | Forbes Brasil | Revista RPA NEWS)

Paraguay - Cane Growers Block Route Py01 Demanding Sugarcane Ethanol Use
Cane growers, led by Francisco Ezequiel Chávez, are protesting by blocking route PY01 to demand legislation mandating the use of sugarcane ethanol. They argue that illegal corn alcohol imports from Brazil harm local production. Currently, only 20-30% of the expected sugarcane has been harvested. Protesters plan to intermittently close the road until they receive a favorable response from parliament.(ABC Color)

United States - New York Sugar Stabilizes At $19.78, March 2025 Hits 20.24
Sugar prices in New York stabilized at $19.78 per pound, up 0.89%, influenced by a 2% rise in crude oil prices. Meanwhile, sugar futures surged, with the March 2025 contract hitting 20.24 cents/lbp. October 2024 reached 19.91 cents/lbp, while London’s December 2025 rose to $535.40/ton, supported by a weaker dollar.(Revista RPAnews | Notícias Agrícolas)

India - Govt Implements Rs 15 Lakh Crore Policies In First 100 Days
The government has implemented farmer-friendly policies worth Rs 15 lakh crore in its first 100 days, with Rs 20,000 crore disbursed to 9.5 crore farmers under the PM-KISAN scheme. The minimum support price for kharif crops has increased, and the minimum export price on onion and basmati rice has been removed to enhance agricultural exports and farmer welfare.(Daily Pioneer)

India - Smallcap Sugar Stock Dalmia Bharat Target ₹590, Current ₹480
Market expert Sandeep Jain recommends buying Dalmia Bharat Sugar, a strong player in the sugar sector, with a current market price of ₹480 and a target price of ₹570-590. The company has plants in Uttar Pradesh and Maharashtra, a PE multiple of 14, and a 75% promoter shareholding. Profit growth has been 8-10% over the past five years.(Zee Business हिंदी)

India - Bjp Protests For Resumption Of Yatnal’S Sugar Factory Operations
The BJP in Kalaburagi protested for the resumption of operations at Siddhasiri Ethanol and Power Unit, closed for environmental violations. Leaders, including Chincholi MLA Avinash Jadhav, demonstrated during Kalyana Karnataka Utsav. Police detained protestors and blocked farmers from reaching the Chief Minister to discuss regional issues, leading to further agitation.(The Hindu)

India - Farmers Demand Sugarcane Price Hike To ₹500 Per Quintal
Farmers in Uttarakhand are demanding a sugarcane price hike to over ₹500 per quintal for the upcoming crushing season, citing rising cultivation costs. Local jaggery units are already operating, prompting urgency for the price announcement. The government has committed to supporting sugar factory owners while addressing the needs of both farmers and industry stakeholders.(ChiniMandi News | ChiniMandi News)

India - 55% Urban Households Prefer Sweets With 25-75% Less Sugar
India's annual sugar consumption reached 290 lakh tonnes, up from 28 million metric tons since 2019-20. A LocalCircles survey found that 51% of urban households consume traditional sweets three or more times monthly. Additionally, 55% of urban consumers are willing to pay 25-75% more for sweets with less sugar, reflecting a demand for healthier options.(LocalCircles | ChiniMandi News)

India - India'S Kharif Sowing Reaches 1,096 Lakh Hectares Total
India's kharif sowing has reached 1,096 lakh hectares by September 17, 2024, surpassing last year's 1,072.94 lakh hectares. Rice planting increased to 410 lakh hectares, while pulses, oilseeds, coarse cereals, and sugarcane also saw growth, with coarse cereals at 189.67 lakh and sugarcane at 57.68 lakh hectares.(BusinessLine | Kisan Tak)

India - Domestic Sugar Prices Rise Rs 10; India Maintains Export Restrictions
Domestic sugar prices in India rose by Rs 10 per quintal, with M-grade sugar in Muzaffarnagar at Rs 3,790 to Rs 3,850 and S-grade in Kolhapur at Rs 3,575 to Rs 3,640. Internationally, London White Sugar is priced at $524.10 per ton. India will maintain sugar export restrictions for 2024/2025, while Maharashtra's crushing season awaits approval post-November 1.(ChiniMandi News | Réussir | BusinessLine)

India - Mysugar Aims For 250,000 Tons, 15.8% Ethanol Blending
MySugar aims to crush 250,000 tons of sugarcane this year, supported by the government’s commitment to sugar factory owners. Additionally, the Indian government has initiated Rs 15 lakh crore efforts to enhance agricultural productivity, converting sugar mills for ethanol production, achieving 15.8% blending in petrol as of August 2024, with a goal of 20% by 2025.(ChiniMandi News | ChiniMandi News)

Philippines - Philippine Sugar Millers Seek Exclusion From Uae Trade Agreement
Philippine sugar millers and glass manufacturers are concerned about the proposed Comprehensive Economic Partnership Agreement (CEPA) with the UAE, fearing negative impacts on their industries. Local producers seek exclusion of raw and refined sugar from the agreement, citing potential competition from UAE refineries. The DTI is accepting position papers until September 4, with negotiations set for September 16-18.(The Filipino Times)

Philippines - Philippine Sugar Imports Rise 15.7% To 1.1 Million Kg
Sugar imports in the Philippines rose from 950,989 kg in 2022 to 1,100,783 kg in 2023, alarming local farmers due to the rising use of artificial sweeteners like sucralose and aspartame. This trend threatens local sugar production, jobs, and livelihoods, prompting calls for government regulation and investigation into the impact of these imports under ASEAN agreements.(Daily Guardian | Inquirer.net | BusinessWorld Online | Digicast Negros)

Turkey - Turkish Sugar Sector Faces 7-8 Billion Lira Loss, Farmers Involved
The Turkish sugar sector faces a 7-8 billion lira loss due to mismanagement and illegal sales, with Türkşeker holding a 400,000-ton stock. In Muş, 1,711 farmers are delivering sugar beets, expected to process 450,000 tons and contribute 2.5 billion lira to the local economy. Çorum Safi Şeker Factory plans investments to boost production capacity and support farmers.(Tarımdan Haber | Diyarbakır Yenigün Haber | Çorum Hakimiyet | Çorum Son Dakika Haberleri)

Vietnam - International Sugarcane Conference Kicks Off With 200 Delegates
The 8th International Sugarcane Sector Conference (IAPSIT) began on September 16 in Quy Nhon, Vietnam, with nearly 200 delegates from various countries. Discussions focus on sustainability, climate change risks, and technological innovations in the sugar industry. The region cultivates about 2.8 million hectares of sugarcane, contributing around 10% of global sugar production.(Vietnam+)

Africa - Oct Stockpiles Sugar Amid Rumors Of Shortage
The article discusses why the OCT is stockpiling sugar amidst rumors of a shortage. It highlights the strategic decision to secure supplies in response to market uncertainties and potential demand spikes. The action aims to stabilize prices and ensure availability for consumers.(African Manager)

Burundi - Sugar Prices Triple In Burundi From 3,300 To 8,000 Francs
In Burundi, the price of sugar has tripled from 3,300 to 8,000 Burundian francs after the government liberalized the sugar market. This change follows a decade-long production decline from 23,000 tons in 2015 to 10,000 tons today. The population faces severe sugar shortages and rising prices for essential goods amid economic mismanagement and corruption.(YOP L-FRII)

South Africa - High Court Confirms Payment Obligations In South African Sugar Industry
The South African High Court has confirmed the status of payment obligations within the sugar industry legislation during business rescue processes. This ruling clarifies the financial responsibilities of stakeholders in the sector, ensuring compliance with established legal frameworks amid business recovery efforts.(Polity)

Tanzania - Tanzania Aims For 802,000 Tonnes Sugar Production Support
The Tanzanian government, led by Minister Dr. Selemani Jafo, is committed to supporting sugar production to meet a national demand of 802,000 tonnes. The Bagamoyo Sugar Factory targets an output of 80,000 tonnes daily, aiming for 100,000 tonnes long-term, currently producing 1,800-2,000 tonnes daily and providing over 1,500 jobs.(ChiniMandi News | ChiniMandi News | ChiniMandi News)

Tunisia - Sugar And Rice Supplies: 35,000 Tons Until Year-End
Tunisia's sugar and rice supplies will meet local demand until year-end, with 35,000 tons of sugar and 6,000 tons of rice in stock. Daily sugar distribution is 2,000 tons against a 1,000-ton need. The OCT plans to import 20,000 tons of sugar. Price fluctuations have raised import costs to 2,700 dinars per kilogram.(Economiste Maghrebin | Directinfo | Tuniscope | GlobalNet | Tunisie-Tribune)

Uganda - Museveni Intervenes As Sugarcane Prices Plummet To Shs90,000
President Yoweri Museveni is intervening in the sugarcane price disputes between millers and outgrowers after significant fluctuations in prices. His directive to Prime Minister Robinah Nabbanja aims to address pricing controversies and clarify financial aspects of sugar production. Prices dropped from Shs240,000 per tonne in 2023 to Shs90,000 in August 2024, causing farmers to halt supply.(Monitor)

France - Huguette Bello Attends Issct Workshop On September 16, 2024
Huguette Bello, president of the region, participated in the ISSCT workshop on September 16, 2024, focused on the valorization of sugarcane co-products. The event aims to innovate and energize the local economy. Bello emphasized the importance of sugarcane as a vital component of economic development, involving scientists and technologists in advancing the sugar industry.(Imaz Press Réunion)

Germany - Food Prices Surge: Olive Oil Up 112.6%, Sugar 83.3%
Food prices in Germany have surged due to the pandemic, Ukraine war, and climate change, with olive oil prices rising by 112.6% and sugar by 83.3% since 2020. Wheat shortages and increased costs for raw materials have also driven up prices for cookies (77.4%) and dairy products (72.6%). Consumers are advised to compare prices and choose seasonal produce to save money.(inFranken.de)

Germany - Südzucker Shares Drop 4.2% To €11.33 Amid Forecast Cuts
Südzucker's stock fell 4.2% to €11.33 after sell recommendations and a profit warning, marking its lowest level since March 2022. The company anticipates operational losses in the sugar segment for 2025/26, with revenue forecasted between €9.5 billion and €9.9 billion, down from €10-10.5 billion. The stock dropped nearly 5% following these announcements.(AktienCheck | Marketscreener DE | Marketscreener DE | Foodaktuell | Finanztrends | Marketscreener DE)

Poland - August Food Prices Down 4.3% From July, Sugar Down 25.7%
In August 2024, food prices slightly decreased compared to July, but rose 4.3% year-on-year. Consumer prices increased by 4.3% overall, with services up 6.2%. Key changes included a 25.7% drop in sugar prices and a 13.6% rise in butter. Seasonal fruits and vegetables rose over 6%, while pork prices fell by 1.7%.(Trybunalski.pl)

World - Beet Sugar Market Projected At $5.8 Billion By 2032
The global beet sugar market is projected to grow from $4.1 billion in 2024 to $5.8 billion by 2032, with a CAGR of 5.3%. The brown sugar market is expected to rise from $17.9 billion in 2024 to $31.2 billion by 2032, with a CAGR of 8.3%. The fresh sugar market is set to increase from $1.2 billion in 2022 to $1.6 billion by 2027, growing at a CAGR of 6.5%.(openPR | 대구포스트 | La Funcion mx)