Sugar News - 19 Sep 2024

Argentina - Independent Growers Alarmed As Brazilian Sugar Hits $1,400/Kg
Argentina - Argentina'S 2024 Sugarcane Production Estimate Cut To 17.5 Million Tons
Argentina - Argentina Exports 53,039 Tons Sugar, 133% Of Quota
Brazil - Bndes Approves R$ 170.4 Million For Usina Laguna Financing
Brazil - Atvos' R$ 350 Million Biogas Project Aims For 28 Million M³
Brazil - Jpmorgan Predicts 20% Sugar Price Rise, Target R$ 35
Canada - Sucro Limited Secures $325 Million Credit Facility For Growth
Mexico - Mexico'S Sugar Cane Production Set To Drop 10% In 2024
Paraguay - New Law Mandates 50% Sugarcane For Ethanol Production

India - Farmers Demand ₹27 Crore Dues Amid Sugar Mill Changes
India - Sugar Prices Stable At Rs 3,840 To Rs 3,900
Indonesia - World'S Largest Deforestation Project: 2 Million Hectares For Sugarcane
Kazakhstan - Kazakhstan'S Sugar Factories Can Process 800,000 Tons Only
Thailand - Thailand Consortium Plans Usd 4 Billion Investment In Energy And Sugar

France - Over 150,000 Tonnes Of Sugar Beets Expected In Pithiviers
Germany - Südzucker Forecasts Losses As Sugar Prices Drop 20%
Germany - Sugar Beet Campaign Starts In Jülich And Euskirchen With 500 Employees

Kenya - Government Sets New Sugarcane Price At Sh5,000 Per Tonne
Mauritius - Sugar Price Drops To Rs 23,000, Agriterra Targets 76,000 Tons
Nigeria - Nsdc And Acci Mobilize $5 Billion For Sugar Production

World - Industrial Sugar Market Projected To Grow Through 2030
World - Upl Launches Eximia Herbicide, Boosting Crop Profitability Over $6B

World - Global Sugar Surplus Revised Down To 2.8 Million Tons

Fiji - Fiji Airways Aims For 80% Carbon Emission Reduction With Saf

Argentina - Independent Growers Alarmed As Brazilian Sugar Hits $1,400/Kilo
Independent sugar cane growers from Jujuy and Salta are alarmed by the import of Brazilian sugar, which they claim could devastate the national industry and regional economies. Imported sugar is reportedly sold at $1,300 to $1,400 per kilo, while local sugar ranges from $600 to $1,000. They urge the government to reduce taxes for better competitiveness.(La Radio de Martin Grande)

Argentina - Argentina'S 2024 Sugarcane Production Estimate Cut To 17.5 Million Tons
The Estación Experimental Agroindustrial Obispo Colombres has reduced Argentina's 2024 sugarcane production estimate to 17.5 million tons due to adverse weather. Paramerica SA is adapting with sustainable practices and advanced technology, aiming for 600,000 cubic meters of ethanol production, a 30% increase from 2023. The company exported 88,000 tons of organic sugar, reinforcing its market position and commitment to sustainability.(Reporte Asia)

Argentina - Argentina Exports 53,039 Tons Sugar, 133% Of Quota
Argentina has implemented a 30-day isolation period and disease testing for pet rabbit imports. Additionally, it has exported 53,039 tons of sugar for the 2023-2024 cycle, exceeding its quota by 133%. For the 2024/2025 cycle, an export quota of 44,178.3 tons of sugar has been allocated for the U.S. market.(infobae | Agrofy News | Argentina.gob.ar Presidencia de la Nación)

Brazil - Bndes Approves R$ 170.4 Million For Usina Laguna Financing
The National Bank for Economic and Social Development (BNDES) approved R$ 170.4 million in financing for Usina Laguna in Batayporã. This includes R$ 26.4 million for a new sugar factory, capable of producing 120,000 tons annually, and R$ 25 million for a storage facility with a 50,000-ton capacity. Additionally, R$ 63 million will enhance energy efficiency and ethanol production certification.(Capital News)

Brazil - Atvos' R$ 350 Million Biogas Project Aims For 28 Million M³
Atvos is seeking a R$ 350 million license to expand its biogas project at the Santa Luzia plant in Nova Alvorada do Sul, aiming to produce 28 million cubic meters of biogas. This initiative supports the state's decarbonization efforts and promotes clean energy, particularly in replacing diesel in vehicles. Atvos processes 11 million tons of sugarcane annually across three plants.(Fátima News | Ponta Porã Informa | A Gazeta News | Jornal Dia a Dia | CaarapoNews | SEMADESC | agenciadenoticias.ms.gov.br | Dourados Informa)

Brazil - Jpmorgan Predicts 20% Sugar Price Rise, Target R$ 35
JPMorgan predicts a 20% rise in sugar prices, foreseeing a global deficit of 4.4 million tons for 2024/25 and adjusting São Martinho's target price to R$ 35, indicating a 30% upside. Meanwhile, sugar prices surged 14.3% to 21.93 cents/lbp, influenced by Brazil's hot weather. São Martinho's shares fell 4.39% this year, now valued at R$ 9.4 billion.(InfoMoney | Notícias Agrícolas | NeoFeed)

Canada - Sucro Limited Secures $325 Million Credit Facility For Growth
Sucro Limited has secured a $325 million syndicated credit facility led by Rabobank, enhancing its capacity for growth and operations in the North American sugar market. The two-year facility includes a $50 million accordion feature and will support Sucro's supply chain expansion and sustainability initiatives, emphasizing strong banking partnerships and confidence in its strategic growth plan.(Canada NewsWire)

Mexico - Mexico'S Sugar Cane Production Set To Drop 10% In 2024
In 2024, Mexico's sugar cane production is expected to decline significantly due to severe drought, with yields dropping by up to 9 kg per ton compared to 2023. The total processed cane reached 46.093 million tons, a 3% decrease. National sugar output is projected at 5.5 million tons, nearly 10% lower than the previous harvest.(sipse.com)

Paraguay - New Law Mandates 50% Sugarcane For Ethanol Production
Massimo Corsi, president of Biocap, expressed concern over the recent approval of a law requiring at least 50% sugarcane for ethanol production. He warned it could lead to price speculation and market distortion. In 2022, 71.7% of ethanol sold was from corn, highlighting a disconnect with market realities. The law prioritizes sugarcane over other raw materials.(Última Hora)

India - Farmers Demand ₹27 Crore Dues Amid Sugar Mill Changes
Uttarakhand's new sugarcane policy guarantees farmers payments within 14 days, impacting 90,365 hectares and 257,000 members. In Phagwara, farmers protested for ₹27 crore in unpaid dues, while sugar millers, led by Raju Shetti, oppose a draft order affecting revenue calculations for Fair and Remunerative Price, with feedback due by Sept 23.(ChiniMandi News | Hindustan Times | The Times of India)

India - Sugar Prices Stable At Rs 3,840 To Rs 3,900
Domestic sugar prices remain stable, with M-grade sugar in Muzaffarnagar priced between Rs 3,840 and Rs 3,900 per quintal. Maharashtra's M/30 is at ₹3660 to ₹3680. The sugarcane crushing season in Maharashtra is expected to start after mid-November elections, with a final date set in early October. Internationally, London White Sugar #5 is at $560.10/ton.(ChiniMandi News | ChiniMandi News)

Indonesia - World'S Largest Deforestation Project: 2 Million Hectares For Sugarcane
Indonesia has initiated the world's largest deforestation project to establish 2 million hectares (5 million acres) of sugarcane plantations in Papua. At least 356 hectares (880 acres) have already been cleared, with 30% of the concessions in protected zones. Concerns arise over Indigenous rights and environmental impacts, as the project contradicts government moratoriums on deforestation.(Mongabay.com)

Kazakhstan - Kazakhstan'S Sugar Factories Can Process 800,000 Tons Only
Kazakhstan's sugar factories can process only 800,000 tons of beets against a 1.2 million ton harvest, leading to 80% reliance on imports. The Koksu and Aksu factories aim to process 615,000 tons, producing 97,000 tons of sugar. Despite improved yields from 13,700 hectares planted, concerns remain about processing capacity and local production sustainability.(LS - ФИНАНСОВЫЙ ЖУРНАЛ | inbusiness.kz | Новости Казахстана сегодня)

Thailand - Thailand Consortium Plans Usd 4 Billion Investment In Energy And Sugar
Thailand's consortium plans to invest USD 4 billion in solar energy, fuel distribution, and sugar factories. This investment aims to enhance the country's renewable energy capacity and improve agricultural productivity through the sugar sector. The initiative is expected to create jobs and stimulate economic growth.(Daily News)

France - Over 150,000 Tonnes Of Sugar Beets Expected In Pithiviers
The sugar factory in Pithiviers-le-Vieil has begun its beet harvesting campaign, expecting over 150,000 tonnes of sugar beets this year, a 20% increase from last year. The factory processes 11,000 tonnes daily, using a method that extracts sugar over 14 hours. The facility is now water-autonomous, recovering 550,000 m³ from beets, and has reduced energy consumption by 20%.(France Bleu)

Germany - Südzucker Forecasts Losses As Sugar Prices Drop 20%
Südzucker AG, Europe's largest sugar producer, forecasts an operational loss for the 2024/25 financial year due to a high volume of beet production and falling sugar prices. Sugar prices have dropped about 20% to around $520/ton. Retail prices have also decreased, with Lidl reducing prices from €1.49 to €0.99 per kilogram. EBITDA is expected between €550-650 million, down from €900 million.(Farmer.pl)

Germany - Sugar Beet Campaign Starts In Jülich And Euskirchen With 500 Employees
The sugar beet campaign has started in Jülich and Euskirchen, following earlier harvests in Lage and Appeldorn. Despite delays due to wet weather, the harvest is expected to be slightly above average. Over 500 employees are working continuously, utilizing renewable energy. The sugar produced will serve customers across Europe, including various sugar types and syrups.(WDR Nachrichten)

Portugal - Probeb Celebrates 60 Years, Advocates Sugar Tax Abolition
The Portuguese Association of Non-Alcoholic Refreshing Beverages (PROBEB) celebrates its 60th anniversary, advocating for the abolition of the sugar tax on soft drinks, which raised €432 million from 2017 to 2023. They emphasize reducing sugar content by 51.3% over ten years and promoting sustainable packaging, with a new recycling initiative starting in 2026.(Expresso)

Kenya - Government Sets New Sugarcane Price At Sh5,000 Per Tonne
The government has set the new sugarcane price at Sh5,000 per tonne, up from Sh4,950, but lower than the previous Sh5,900. This decision follows a review of factory sugar prices from May to July 2024. The Kenya Sugarcane Growers Association criticized the price, citing an influx of imported sugar and threatening protests if not reversed.(KahawaTungu)

Mauritius - Sugar Price Drops To Rs 23,000, Agriterra Targets 76,000 Tons
Sugar prices have fallen to Rs 23,000 per tonne, significantly lower than the past two years, according to Devesh Dukhira. Agriterra aims to boost its sugar production from 60,000 tons in 2023 to over 76,000 tons in 2024 by cultivating 5,200 hectares, emphasizing quality, sustainability, and innovation in its practices.(Le Defi Media Group | Eco Austral)

Nigeria - Nsdc And Acci Mobilize $5 Billion For Sugar Production
The National Sugar Development Council (NSDC) and the Abuja Chamber of Commerce and Industry (ACCI) are mobilizing $5 billion for Nigeria's sugar sector, aiming for 2 million metric tons of annual production, surpassing the current demand of 1.8 million tons. The initiative will support the Nigeria Sugar Master Plan and focus on community benefits and viable cultivation sites.(THISDAY Newspapers | ChiniMandi News | Leadership News)

World - Industrial Sugar Market Projected To Grow Through 2030
The industrial sugar market is projected to grow significantly from 2021 to 2030, driven by increased trade among emerging economies. The report covers market size, segmentation by type (granulated, powdered, syrup) and application (food, medical), and competitive analysis of major players like Archer Daniels Midland and Dangote Group. It emphasizes investment opportunities and market dynamics.(openPR)

World - Upl Launches Eximia Herbicide, Boosting Crop Profitability Over $6B
UPL has launched Eximia, a selective herbicide for sugarcane, effective against difficult-to-control invasive species like Cynodon dactylon and Paspalum maritimum. Eximia's unique mechanism inhibits the enzyme dihydropteroate synthase, crucial for weed growth. The product enhances crop profitability and quality, with potential performance boosts when combined with agricultural adjuvants. UPL generates over $6 billion annually, operating in over 130 countries.(AgroRevenda)

World - Global Sugar Surplus Revised Down To 2.8 Million Tons
The global sugar market surplus for the 2023/24 season has been revised down from 5 million tons to 2.8 million tons, mainly due to lower expectations in Brazil. In contrast, favorable weather in Asia and the EU is boosting production estimates, with the EU projected to produce 17 million tons, up by 0.8 million tons. India also shows potential for a good harvest despite risks.(Revista RPA NEWS)

Fiji - Fiji Airways Aims For 80% Carbon Emission Reduction With Saf
Fiji Airways, in collaboration with The Fiji Sugar Corporation, Lee Enterprises Consulting, and the Asian Development Bank, is exploring the feasibility of producing Sustainable Aviation Fuel (SAF) from sugarcane by-products. This initiative aims to reduce carbon emissions by up to 80%, enhance the local economy, and support Fiji's sugar industry while promoting environmental sustainability.(ChiniMandi News)