Skewed biofuels policy by the Trump administration whereby more oil refineries have been granted exemptions to blend ethanol in gasoline has invariably impacted the biofuels sector adversely and with it, the corn farmers supplying the feedstock.
France – Government requests Suedzucker to reconsider beet sugar factory closures [Full subscriber]
The French government asked Suedzucker on 13th March to review its plans to close two beet sugar factories and a packaging plant in France, as the publicly listed German sugar maker seeks to cut costs of its operations amidst reduced profitability amidst global glut and low sugar prices.
Suedzucker to close two beet sugar plants each in France and Germany [Full subscriber]
As part of a wider restructuring plan, the sugar giant Suedzucker is to close two beet sugar factories in France and two in Germany, reported Reuters.
Brazil – Closure of indebted mills likely [Registered]
Some more sugar mills in Brazil are expected to shut down in the foreseeable future as their their debt situation is no longer manageable, according to the head of a mill acquired by a US fund this year speaking at the Novacana conference in Sao Paulo on 28th June, reported Reuters.
Brazil – More plant closures in the sugar-ethanol sector [Registered]
One of the reasons for the crisis, according to managers consulted by Folha and industry specialists, is the low profits currently proffered by sugar and ethanol, when compared to labour costs which have been rising at nearly 10% a year and contributed significantly to rising production costs.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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