All Entries Tagged With: "sugar"
ISO says Brazilian sugar output may rise 35 million tons next year, ethanol exports to drop
In Brazil, the International Sugar Organization is offering guidance of a potentially large sugar crop in Brazil next year,in response to soaring sugar prices, which have soared 85 percent this year following failure of the Indian sugar crop. The current harvest is in the 600 million ton range and the ISO said that as much [...]
Food officials dispute that increased Swaziland sugar production will add to food stress
In Swaziland, Irin News is reporting on a controversy over whether soaring sugar prices, that are causing Swaziland farmers to switch to sugar production from other food crops, will add to food stress in the country.
A program officer at the UN World Food Program told IRIN, “food security is not just production; our position is [...]
Sugar giants Bajaj Hindustan and Shree Renuka Sugars go on capital rasing spree
In India, sugar mill operator Bajaj Hindusthan is looking to raise $147 million with a 35 million share flotation. The shares are discounted 12 percent to the most recent closing price.
The move follows a $105 million capital raise by Shree Renuka Sugars raised $105 million and more than 30 investors joined in the round, with [...]
Brazil’s Cosan merges with Nova America: Cosan now controls 10 percent of Brazilian sugar trade
In Brazil, Cosan announced that it would merge with Nova America and acquire four new sugar cane factories and gain control of leading sugar company Uniao in return for giving Nova shareholders 11 percent of its stock. Cosan will now control 10 percent of the Brazilian sugar trade.
UK’s Tate & Lyle says ethanol demand plunge hurting sugar profits
In England, British sugar firm Tate & Lyle said that falling oil prices have sapped ethanol demand, and said that it would report no increases in profits as the company worked through a downcycle in ethanol demand. The company said that deterioration of demand was particularly evident in its North American operations.
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