Ethiopian authorities have put eight state-owned sugar milling companies up for sale to private investors to wean local millers off state budgetary support and improve local production.
Ethiopia – New build Tana Beles No. 1 sugar factory commences operations [Full subscriber]
The Ethiopia Sugar Corporation (ESC) disclosed on 11th March that the Chinese-built Tana Bales No. 1 sugar factory, sited in the country’s northern Amhara region, has commenced operations.
Ethiopia – Rebel army set fire to Finachaa sugar factory cane plantation and tractors [Full subscriber]
The rebel Oromo Liberation Army (OLA) has attacked the country’s largest sugar factory’s cane plantation, according to the Ethiopian Sugar Corp, reported Bloomberg.
Ethiopia – Ernst & Young to advise on privatization of 10 sugar factories [Full subscriber]
The government of Ethiopia is set to hire Ernst & Young Global Ltd as a consultant in its bid to privatize 10 out of the 13 state-owned sugar factories.
Ethiopia – New build Tana Beles sugar factory commences operations 7 years later than scheduled date [Full subscriber]
New build Tana Beles sugar factory is located in Amhara Regional State’s Jawwi district, some 576 kilometres north-west of Addis Ababa, commenced operations on May 18, 2021. The Ethiopian Prime Minister Abiy Ahmed inaugurated the factory on 6th June, which was originally scheduled to begin operation in 2014.
Ethiopia – Government issues international tender to buy 320,000 tonnes of white sugar [Full subscriber]
The Government of Ethiopia (GOE) through the Ministry of Trade and Industry (MOTI) recently issued three separate international tenders for food commodities on March 16th which includes the purchase of, 320,000 MT of white sugar, according to USDA.
Ethiopia – Sugar and ethanol production on the rise on the back of sector reform [Full subscriber]
The reform in the sugar sector has helped increase both sugar and ethanol output, according to Gashaw Ayichluhim, Corporate Communication Executive Officer, Ethiopian Sugar Corporation, reported The Ethiopian Herald.
Ethiopia plans to cut sugar tax ahead of privatizing sugar plants [Full subscriber]
Ethiopia plans to cut an excise tax on sugar to 20% from 33%, according to a draft law in parliament, proposing the move ahead of plans to privatize the sugar industry as part of a government drive to open up the economy, reported Reuters.
Ethiopia – Coca-Cola plans to buy sugar plants to fully secure its sugar need locally [Full subscriber]
The Coca-Cola Company under its subsidiary in Ethiopia has tendered its bid to acquire sugar plant/s the government is about to privatize in the early months of 2020, according to local paper The Reporter.
Ethiopia – Investigation commences into the misuse of funds assigned for the construction of sugar factories [Full subscriber]
The Ethiopian government is investigating possible misappropriation of funds meant for the expansion of 10 state-owned sugar factories that are part of the industry now slated for privatization, reported Bloomberg.
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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