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Sugar News - 30 Sep 2024

Sugar News - 30 Sep 2024
Asia

India - India'S Monsoon Rains Hit Four-Year High At 107.6%
India - October 2024 Sugar Quota 25.5 Lmt, Exports Relief 2 Million
Indonesia - Investigation Into Sugar Import Corruption Involves Pt Duta Sugar
Indonesia - Sgn Manages 59,301 Hectares, Ugm Targets 8 Tons By
Pakistan - Pakistan Approves 100,000 Metric Tonnes Sugar Export Increase
Philippines - Sra Boosts Sugar Production Amid 14,000 Hectare Decline
Sri Lanka - Ab Mauri Sri Lanka Opens Icing Sugar Grinding Plant
Turkey - Tons Of Sugar Beets Left In Fields, Farmers Face 15 Billion Fines

Europe

Denmark - Nordzucker To Use Biomethane By 2025, Cut 37,000 Tons Co
Ireland - €172M Sugar Tax Repayments Delayed Since May 2018
Russia - Russia'S 2024 Sugar Production Forecasted At 6.202 Million Tons
Russia - Sugar Sales Surge 56% To 288.8 Thousand Tons In 2024
UK - British Sugar Beet Growers To Receive £150M From Us Exports

Americas

Argentina - Ñuñorco Sugar Mill Produces 39,824 Tons, Up 6,844 Tons
Brazil - Tereos And Koppert Invest R$ 50 Million; Sugarcane Grinding Drops 3
Peru - Midagri Regulates Sugarcane Burning; Mef Sets Sugar Price $523

Africa

Nigeria - Nsdc Plans $5 Billion Investment In Nigeria'S Sugar Sector
Nigeria - Dangote Invests Over $25 Billion In Nigeria'S Key Sectors
South Africa - Sugar Industry Seeks Delay And Moratorium On Tax Increase

World

World - Raw Sugar Deliveries Estimated 1.7 Million Tons, Prices Drop

Asia

India - India'S Monsoon Rains Hit Four-Year High At 107.6%
India's monsoon rainfall this year reached its highest level since 2020, totaling 107.6% of the long-term average. This improvement, following a drought in 2023, supports crop output and enhances soil moisture for winter crops. September saw 11.6% above-average rainfall, benefiting farmers and leading to the lifting of some rice export curbs.(WHTC)

India - October 2024 Sugar Quota 25.5 Lmt, Exports Relief 2 Million
The Food Ministry set the October 2024 sugar quota at 25.5 LMT, down from 29 LMT in 2023, following a September allocation of 23.5 LMT. Sugar prices are falling due to a bumper crop forecast in India. Additionally, sugar companies may receive relief for 2 million tons of exports and ethanol price revisions, with 2023-24 production estimated at 32 million tons.(ChiniMandi News | Barchart | Zee Business हिंदी)

Indonesia - Investigation Into Sugar Import Corruption Involves Pt Duta Sugar
The Attorney General's Office is investigating WLY, the President Director of PT Duta Sugar International, regarding alleged corruption in sugar import activities from the Ministry of Trade between 2015 and 2023. The case has moved to the investigative stage after sufficient initial evidence was found. Searches at the Ministry of Trade and PT Perusahaan Perdagangan Indonesia offices yielded important documents and electronic evidence.(Monitor Indonesia)

Pakistan - Pakistan Approves 100,000 Metric Tonnes Sugar Export Increase
Pakistan's federal cabinet approved the export of an additional 100,000 metric tonnes of sugar, following a prior decision for 150,000 metric tonnes. Local sugar prices average Rs139.5 per kilogram, with 41 sugar mills allocated quotas, including 64,000 metric tonnes for Punjab. Additionally, the State Bank of Pakistan authorized forex dealers to process more sugar export requests to enhance liquidity.(ChiniMandi News | Associated Press of Pakistan)

Philippines - Sra Boosts Sugar Production Amid 14,000 Hectare Decline
The Sugar Regulatory Administration (SRA) is enhancing sugar production and farmers' revenues in the Philippines, addressing a decline in farm sizes from over 400,000 hectares to 386,000. Currently, output is 52 tons per hectare, with 85% of farms under one hectare. The SRA is consolidating farms and offering funding of P2 to P2.5 million for equipment.(Daily Tribune (Philippines) | Daily Tribune (Philippines))

Sri Lanka - Ab Mauri Sri Lanka Opens Icing Sugar Grinding Plant
AB Mauri Sri Lanka has opened a new icing sugar grinding plant, enhancing its production capabilities. This facility will cater to the growing demand for icing sugar in the region, supporting local bakers and confectioners. The investment aims to strengthen the company's market presence and improve product quality for its customers.(Daily News)

Turkey - Tons Of Sugar Beets Left In Fields, Farmers Face 15 Billion Fines
In Nevşehir, farmers in villages like Karahasanlı and Medetsiz are unable to transport their harvested sugar beets to the Çorum factory due to penalties from tonnage regulations in Yozgat's Şefaatli district, leaving crops in the fields. Farmers report facing fines of up to 15 billion and warn that without solutions, they may cease production.(FİB Haber Nevşehir Haber)

Europe

Denmark - Nordzucker To Use Biomethane By 2025, Cut 37,000 Tons Co
Nordzucker will start using biomethane from Nature Energy in its Danish factories for sugar production by 2025, promoting sustainable practices. Additionally, the GoGreen program aims to cut CO₂ emissions by up to 37,000 tons in Denmark by 2030, supported by a new gas pipeline to halve emissions during this period.(Quantum Commodity Intelligence | Zeitung für kommunale Wirtschaft)

EU - Sugar Beet Farmers Face Profitability Concerns Amid Production Declines
After two profitable seasons for sugar beet farmers, concerns about production profitability are resurfacing. Factors contributing to recent success included rising global sugar prices and high transport costs to Europe. However, European production declines due to economic downturns and challenges in pest and disease management threaten future profitability.(topagrar.pl)

Ireland - €172M Sugar Tax Repayments Delayed Since May 2018
Revenue's sugar tax in Ireland generated €172m from 2018 to 2023, with €4.4m repaid to exporters. Repayment delays included a €9,000 claim unpaid for a year. Revenue conducted 126 interventions, recovering €426,000. Net annual receipts decreased from €33m in 2019 to €29m in 2023, prompting a review of repayment guidance to be published in July 2024.(RTÉ News | Irish Examiner)

Russia - Russia'S 2024 Sugar Production Forecasted At 6.202 Million Tons
Russia's sugar production for 2024 is forecasted at 6.202 million tons, down from 6.924 million tons in 2023, due to adverse weather. Domestic consumption is steady at 5.8 million tons, with exports expected at 599,000 tons. Lipetsk region yields 1.3 million tons from 37,000 hectares, ranking second in production. Sugar exchange sales rose by 56% in the first half.(DairyNews | Ведомости | donvesti.ru)

Russia - Sugar Sales Surge 56% To 288.8 Thousand Tons In 2024
Sugar sales on the exchange surged by 56% in the first half of 2024, reaching 288.8 thousand tons, with May alone accounting for 65.9 thousand tons. The Russian government imposed a temporary export ban on sugar until August 31, 2024, amid a production forecast of 6.8 million tons, a 9.8% increase from last season.(AK&M News | Ведомости)

UK - British Sugar Beet Growers To Receive £150M From Us Exports
UK beetroot growers will gain access to the US market for the first time, with estimated annual exports worth £150 million. This follows a successful delegation visit to promote UK agriculture. NFU leaders emphasized the significance of collaboration with the government and the establishment of agri-food attachés to enhance market opportunities and increase UK agri-food exports by 30% by 2030.(Farmers Guide)

Americas

Argentina - Ñuñorco Sugar Mill Produces 39,824 Tons, Up 6,844 Tons
The Ñuñorco sugar mill concluded its harvest on September 29, after 104 days, producing 512,740 tons of sugarcane, an increase of 90,212 tons from last year. Total sugar production reached 39,824 tons, surpassing last year's 32,980 tons by 6,844 tons. Final factory settlement data will be updated by the mill later.(Primera Fuente)

Peru - Midagri Regulates Sugarcane Burning; Mef Sets Sugar Price $523
The Ministry of Agrarian Development and Irrigation has published a project to regulate sugarcane crop burning to protect public health and promote sustainability. Comments are accepted until October 28, 2024. Additionally, the Ministry of Economy and Finance set reference prices: corn at $183/MT, sugar at $523/MT, rice at $790/MT, and milk at $3,471/MT.(AGROPERÚ Informa | AGROPERÚ Informa)

Africa

Nigeria - Nsdc Plans $5 Billion Investment In Nigeria'S Sugar Sector
The National Sugar Development Council (NSDC) aims to attract $5 billion investment in Nigeria's sugar sector by 2025. Nigeria has achieved self-sufficiency with 3 million metric tonnes of refined sugar, creating over 15,000 jobs. The Backward Integration Plan has drawn $1 billion in investments, but challenges remain for the National Sugar Masterplan II amid a projected African deficit of 13 million metric tonnes by 2030.(ChiniMandi News | Businessday | THISDAY Newspapers)

Nigeria - Dangote Invests Over $25 Billion In Nigeria'S Key Sectors
Aliko Dangote, Africa's richest man, has invested over $25 billion in Nigeria's oil, cement, and sugar sectors in the past seven years. At UNGA 79, he highlighted the importance of African self-sufficiency and youth job creation. His cement company is Nigeria's largest employer with over 19,000 staff, while his $19 billion refinery aims to hire young engineers.(Myśl Polska | Nairametrics)

South Africa - Sugar Industry Seeks Delay And Moratorium On Tax Increase
South Africa's sugar industry is requesting a delay on the health promotion tax until 2030, citing over R2 billion in losses and 16,000 job cuts since its 2018 implementation. Additionally, the Sugar Association seeks a six-month moratorium, noting the closure of two sugar mills and R1.2 billion in revenue losses, while proposing diversification projects to create jobs.(Mail and Guardian | Jacaranda FM)

World

World - Raw Sugar Deliveries Estimated 1.7 Million Tons, Prices Drop
Deliveries of raw sugar at the ICE for October are estimated at 1.7 million metric tons, with Wilmar International as the sole receiver and Sucden supplying 22,500 lots. Additionally, net sugar production for SY25 is projected lower due to adverse weather, while sugar futures prices decreased in New York and London amid improved harvest expectations.(Notícias Agrícolas | BW Businessworld | Notícias Agrícolas)