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Sugar News - 25 Sep 2024

Sugar News - 25 Sep 2024
Asia

Bangladesh - No Progress In Six Closed Sugar Mills As Prices Hit Tk 140/Kg
India - Farmers Demand Rs 450 Per Quintal Sugarcane Price
India - ₹1,07,732 Crore Paid As Sugarcane Dues In 2023-24 Season
India - Bihar Allocates ₹12.40 Crore For 81 Jaggery Production Units
India - Bhogpur Sugar Mill To Procure 70,000 Mt Stubble For 2024-25
India - Domestic Sugar Prices Drop Amid Weak Demand, M-Grade Rs 3,800
India - Record 2023-24 Foodgrain Production Hits 3322.98 Lmt
India - Dr. Senu Duggal Targets 2.8 Million Quintals Sugar Crushing
Turkey - Sugar Beet Purchasing Campaign Begins, Targeting 3.65 Million Tons
Turkey - Turkey Sets 2024 Sugar Beet Purchase Price At 2,375 Lira
Turkey - Sugar Beet Purchase Price Set At 2,375 Tl Per Ton
Turkey - Konya And Çumra Sugar Factories Start 2024-2025 Beet Campaign
Turkey - Türkşeker Sets 2024 Sugar Beet Purchase Price At 2,375 Lira
Turkey - Burdur Sugar Factory Begins 70Th Campaign, Processing 605,000 Tons
Turkey - Konya Sugar Beet Campaign Begins With 7 Million Tons Expected

Americas

Brasil - Thousands Of Hectares Of Sugarcane Destroyed By Wildfires
Brazil - Brazil'S Sugar Production Gap Eliminates Bearish Fund Bets
Brazil - Brazil'S Sugar Stocks Drop To 790,000 Tons, Futures Surge 20%
Brazil - Sugar Prices Surge Amid Brazil'S 39.3 Mmt Crop Challenges

Mexico - Mexican Sugar Sector Worth $3-5 Billion Faces Sucroliq Scrutiny
Venezuela - Portuguesa Prepares To Harvest 3.6 Million Tons Of Cane
Venezuela - Sugarcane Production Reaches 4.15 Million Tons, Grows 20%

Europe

EU - Dramatic Drop In Beet Prices: 30 Euros/Ton Base Price
Germany - Sugar Factory Shutdown Risks Beet Spoilage Amid Record 10 Million Tons
Germany - Südzucker'S Wabern Factory: 80 Tons/Ha, €100 Million Investment
Russia - Bashkir Sugar Plant To Boost Production By 25% This Season
Ukraine - Ukrainians Face Sugar Price Drop To 36.52 Uah/Kg By 2024
Ukraine - Ukrainian Sugar Prices Expected To Drop To 18-19 Uah/Kg

Africa

Morocco - Cosumar Reports 4.98 Billion Dirhams Revenue In H1 2024
Niger - Niger Signs Three-Year Sugar Cane Agreement For 145 Million Liters

Asia

Bangladesh - No Progress In Six Closed Sugar Mills As Prices Hit Tk 140/Kg
Six closed state-owned sugar mills in Bangladesh remain inactive for over three years, contributing to rising sugar prices. The interim government canceled a deal with S Alam Group, citing irregularities. Foreign investors proposed a Tk 5,000 crore investment, aiming to produce sugar at Tk 60/kg, compared to Tk 140/kg currently, and process 14,000 tonnes of sugarcane daily.(The Daily Star)

India - Farmers Demand Rs 450 Per Quintal Sugarcane Price
Farmers in Muzaffarnagar, Uttar Pradesh, protested for a sugarcane price of Rs 450 per quintal for the current crushing season. The Bharatiya Kisan Union (BKU) Sangharsh Morcha submitted a memorandum to the Chief Minister, demanding timely payment of pending dues and an end to the installation of smart electricity meters in the district.(ChiniMandi News)

India - ₹1,07,732 Crore Paid As Sugarcane Dues In 2023-24 Season
The government disbursed ₹1,07,732 crore in sugarcane dues for the 2023-24 season, reflecting effective policies by the Department of Food and Public Distribution. Additionally, India's ethanol production capacity surged from 518 crore liters in 2017-18 to 1,623 crore liters in 2023-24, supporting energy self-sufficiency and benefiting farmers across several states.(ChiniMandi News)

India - Bihar Allocates ₹12.40 Crore For 81 Jaggery Production Units
Bihar has allocated ₹12.40 crore to promote the jaggery industry, supporting 81 production units. Loans will be provided based on capacity, with maximum amounts ranging from ₹6 lakh for 5-20 tons per day to ₹1 crore for over 60 tons. Bihar is the fifth-largest sugar producer in India, aiming for third place, with production rising from 4.51 lakh metric tons in 2006-07 to 6.87 lakh metric tons in 2023-24.(MENAFN.COM)

India - Bhogpur Sugar Mill To Procure 70,000 Mt Stubble For 2024-25
Bhogpur Co-operative Sugar Mill plans to procure 70,000 MT of stubble for crop residue management in 2024-25, aiding in stubble burning reduction and boosting local farmers' income. The mill, which has an 80 TPH boiler and 15 MW co-generation plant, previously procured over 60,000 MT of paddy, generating 22,376.6 MW of electricity. Stubble is purchased at Rs. 1,750 per ton.(Babushahi.com)

India - Domestic Sugar Prices Drop Amid Weak Demand, M-Grade Rs 3,800
Domestic sugar prices are declining due to weak demand, with M-grade sugar in Muzaffarnagar priced at Rs 3,800-3,860 per quintal and S-grade in Kolhapur at Rs 3,575-3,640. Ex-mill prices range from Rs 3,570 to Rs 4,158 across various states. Internationally, London White Sugar is at $590/ton, and New York Sugar at 23.02 c/lb.(ChiniMandi News)

India - Record 2023-24 Foodgrain Production Hits 3322.98 Lmt
The Ministry of Agriculture estimates 2023-24 production at 376.65 LMT for maize and 4531.58 LMT for sugarcane. Total foodgrain production is a record 3322.98 LMT, up 26.11 LMT from 2022-23. Record rice and wheat productions are 1378.25 LMT and 1132.92 LMT, respectively. Drought conditions impacted pulses and coarse cereals.(ChiniMandi News)

India - Dr. Senu Duggal Targets 2.8 Million Quintals Sugar Crushing
Dr. Senu Duggal, Managing Director of Sugarfed, reviewed the sugarcane crushing season preparations at Cooperative Sugar Mill, Morinda, targeting over 2.8 million quintals from an increased area of 6,819 hectares. She highlighted the importance of cleanliness, quality production, and support for farmers, noting that nine out of twelve cooperative mills are operational.(Babushahi.com | Yes Punjab)

Turkey - Sugar Beet Purchasing Campaign Begins, Targeting 3.65 Million Tons
The 2024-2025 sugar beet purchasing campaign has commenced at Konya and Çumra Sugar Factories, expecting 3.6-3.65 million tons of beet. Daily processing capacity will increase to 31-32 thousand tons, with Çumra's capacity rising to 20-20.5 thousand tons. Investments are funded by the company's own resources, and this year's beet yield is anticipated to be high, around 4 million tons.(Bursa.com)

Turkey - Turkey Sets 2024 Sugar Beet Purchase Price At 2,375 Lira
The Turkish Sugar Authority, Türkşeker, has announced the 2024 sugar beet purchase price at 2,375 lira per ton, including the quota completion premium. This price reflects the determination by the Ministry of Agriculture and Forestry's relevant organization for this year's sugar beet purchases.(RayHaber)

Turkey - Sugar Beet Purchase Price Set At 2,375 Tl Per Ton
The sugar beet purchase price has been set at 2,375 TL per ton, including the quota completion premium. Previously, Türkşeker announced a price of 1,855 TL per ton for 2023. Ercan Ateş, President of the Agricultural Chamber, criticized the price, stating it is unacceptable and suggested officials visit markets for a reality check.(Halk54)

Turkey - Konya And Çumra Sugar Factories Start 2024-2025 Beet Campaign
The 2024-2025 sugar beet purchasing campaign at Konya Şeker and Çumra Şeker factories has commenced, expecting an intake of 3.6-3.65 million tons. Daily processing capacity will increase to 31-32 thousand tons, with improvements funded by internal resources. The beet yield is reported to be good, with a projected harvest of 4 million tons.(GazeteRize)

Turkey - Türkşeker Sets 2024 Sugar Beet Purchase Price At 2,375 Lira
The Turkish Ministry of Agriculture announced that the sugar beet purchase price set by Türkşeker for 2024 is 2,375 lira per ton, including a quota completion bonus. This price has been positively received by farmers, who believe it will benefit their families and the industry. The price is crucial for economic stability and encourages increased production and efficiency in agriculture.(HABER FIRSAT)

Turkey - Burdur Sugar Factory Begins 70Th Campaign, Processing 605,000 Tons
Burdur Sugar Factory has initiated its 70th campaign, processing 605,000 tons of beets to produce approximately 80,000 tons of sugar. The campaign, lasting 108 days, involves 4,588 producers from 161 villages. The sugar beet purchase price is set at 2,375 TL per ton, with additional expected outputs of 26,000 tons of molasses and 160,000 tons of pulp.(Burdur Yenigün Gazetesi | Burdur Yenigün Gazetesi | Gün Haber | GazeteBU | Sacit Aslan)

Turkey - Konya Sugar Beet Campaign Begins With 7 Million Tons Expected
Kayseri Şeker anticipates a harvest of 3.36 million tons of sugar beets from 565,000 decares for the 2024-2025 campaign, with a purchase price of 2,375 lira per ton. The projected sugar production is 500,000 tons, alongside 120,000 tons of molasses. Around 1,600 employees work across three factories.(Kayseri Olay | Milliyet | Gazete Banka | Konhaber | Son Dakika | Sivas Haberleri | Son Dakika Sivas Haberi | konyaninnabzi.web.tr | Referans Türk)

Americas

Brasil - Thousands Of Hectares Of Sugarcane Destroyed By Wildfires
A Canaoeste will host a meeting on October 26 to discuss the causes of recent wildfires that destroyed thousands of hectares of sugarcane in São Paulo. The event will include key stakeholders and present detailed data on the severe fires, with an emphasis on the need for effective prevention policies and increased awareness of the environmental impacts.(Revista RPAnews)

Brazil - Brazil'S Sugar Production Gap Eliminates Bearish Fund Bets
Brazil's sugar production gap has eliminated bearish bets from funds. The country's output challenges have led to increased market volatility, impacting global sugar prices. This situation has prompted a reevaluation of strategies among investors as they navigate the uncertainties in the sugar market.(MSN)

Brazil - Brazil'S Sugar Stocks Drop To 790,000 Tons, Futures Surge 20%
Brazil, the world's largest sugar producer, is experiencing severe drought and wildfires, leading to a projected drop in sugar stocks to 790,000 tons by early 2024. Sugar futures surged nearly 20%, marking the largest rise in 16 years. Thailand's production is expected at 10.6 million tons, while India's output may reach 30 million tons.(Notícias Agrícolas | Yahoo Finanzas | Investnews | Forbes Brasil | Agronegocios | The Edge Malaysia)

Brazil - Sugar Prices Surge Amid Brazil'S 39.3 Mmt Crop Challenges
Sugar prices are rising due to Brazil's crop challenges, with forecasts down to 39.3 MMT due to drought and fires damaging 80,000 hectares. New York futures hit 23.42 cents/lbp, while London’s December 2024 is at $595.80/ton. A global deficit of 3.58 MMT is projected for 2024/25, exacerbated by India's export curbs.(Barchart | Notícias Agrícolas | Inkl | Notícias Agrícolas | Revista RPAnews | Notícias Agrícolas)

Mexico - Mexican Sugar Sector Worth $3-5 Billion Faces Sucroliq Scrutiny
The Mexican sugar sector, valued at $3-5 billion, is under scrutiny for unfair competition linked to Sucroliq's alleged tariff-free imports from 2017 to 2018. Authorities, including SAT and the Economy Ministry, are reviewing the situation amid demands from domestic producers for action to protect the industry.(Reporte Indigo | Eje Central)

Venezuela - Portuguesa Prepares To Harvest 3.6 Million Tons Of Cane
The sugarcane harvest for 2024-2025 in Portuguesa is set to yield 3.6 million tons, producing nearly 300,000 tons of sugar. Central Las Majaguas will process 800,000 tons of cane, generating 64,000 tons of sugar. Improvements include new turbines and mills, enhancing efficiency and sustainability in production across the region's four sugar mills.(Últimas Noticias)

Venezuela - Sugarcane Production Reaches 4.15 Million Tons, Grows 20%
The 2023-2024 sugarcane harvest in Venezuela reached 4.15 million tons, exceeding the 3.95 million tons forecast. Fesoca aims for over 5 million tons in 2024-2025 and anticipates producing 400,000 tons of sugar, covering 60-65% of national consumption. The sector has experienced annual growth of 18-20% over the past five years.(El Impulso | El Aragueño | El Informador Venezuela)

Europe

EU - Dramatic Drop In Beet Prices: 30 Euros/Ton Base Price
This year, sugar producers began their campaign early due to high yields. For the 2025/2026 season, beet growers will receive a base price of 30 euros/ton, plus 2 euros/ton for additional services. The minimum price for sugar beets was 26.29 euros/ton. Contracts include profit-sharing for sugar sales above 510 euros/ton, ensuring farmers' interests are protected.(Tygodnik Poradnik Rolniczy)

Germany - Sugar Factory Shutdown Risks Beet Spoilage Amid Record 10 Million Tons
The Nordzucker factory in Schladen has been shut down for over two weeks due to a broken machine that extracts juice from sugar beets. This disruption may extend the beet campaign into late February or March, causing concerns among farmers about potential spoilage. Nordzucker anticipates a record harvest of over ten million tons in 2024. Repairs are expected to take several weeks.(NDR.de)

Germany - Südzucker'S Wabern Factory: 80 Tons/Ha, €100 Million Investment
Wiebke Knell, the FDP leader in the Hessian parliament, visited Südzucker's Wabern sugar factory, which operates on 16,000 hectares and produces 80 tons per hectare. The factory employs 1,466 producers and has a significant economic impact, with a training rate of 13% and an employment multiplier of 12.9%. Südzucker plans to invest €100 million in infrastructure projects to ensure long-term sustainability.(SEK-News)

Russia - Bashkir Sugar Plant To Boost Production By 25% This Season
One of the largest sugar producers in the Volga Federal District plans to increase sugar beet processing by 25% after a major equipment upgrade. The Chishminsky Sugar Plant aims to process approximately 1 million tons of sugar beets this season. The plant's capacity has doubled, allowing daily processing of 6,000 tons. Bashkiria expects a record beet harvest exceeding 2 million tons.(Prufy.ru)

Ukraine - Ukrainians Face Sugar Price Drop To 36.52 Uah/Kg By 2024
Ukrainians can expect a significant drop in crystalline sugar prices by the end of 2024 due to EU export restrictions, leading to a domestic surplus. As of September 2024, the average supermarket price was around 36.52 UAH/kg. Efforts are underway to find new markets, but exports remain insufficient to meet the 500,000-ton demand.(MY.UA)

Ukraine - Ukrainian Sugar Prices Expected To Drop To 18-19 Uah/Kg
Ukrainian sugar prices are expected to decline to 18-19 UAH/kg from 21.50-22 UAH/kg due to EU trade restrictions and an oversaturated internal market. In contrast, global sugar prices are rising, influenced by drought in Brazil and wildfires affecting 5-8% of sugarcane fields. Ukraine exported 691.8 thousand tons of sugar in the 2023/24 marketing year.(Ukraine open for business | Діловий портал DELO.UA | Бизнес)

Africa

Morocco - Cosumar Reports 4.98 Billion Dirhams Revenue In H1 2024
Cosumar reported a consolidated revenue of 4,983.2 million dirhams for the first half of 2024, a 0.5% increase year-on-year, driven by higher domestic sugar sales. EBITDA rose 9.9% to 1,011 million dirhams. Net profit attributable to the group was 412 million dirhams, up 43 million dirhams. The new refinery in Sidi Bennour has an annual capacity of 500,000 tonnes, increasing total production to 2.5 million tonnes.(boursenews.ma)

Niger - Niger Signs Three-Year Sugar Cane Agreement For 145 Million Liters
Niger State Government signed a three-year Memorandum of Understanding with Uttham Sucrotech International, Rite Foods Limited, and Legacy Sugar Company for sugarcane cultivation. The project will establish six sugar mills on 148,000 hectares, providing 110,000 outgrowers and producing 145 million liters of ethanol annually. The initiative aims to boost local agriculture and enhance livelihoods.(THISDAY Newspapers)