The Federal Cartel Office (Bundeskartellamt) has given the German sugar industry the green light for the country’s major sugar manufacturers to cooperate in the event of gas supply shortages impacting factory operations.
Germany – Nordzucker switches back to oil power from gas as 2022/23 campaign beckons [Full subscriber]
Germany’s second-largest sugar producer Nordzucker is switching back from natural gas to oil in its beet sugar plants in Lower Saxony during the 2022/23 campaign commencing on September 3rd.
Nordzucker ends 2021/22 with above-average beet sugar output [Full subscriber]
Nordzucker has completed the production of sugar from sugar beet and sugarcane in most of its plants, according to a statement by the company.
Nordzucker posts operating profit of €81 million in Q1-Q3 2020/21 [Full subscriber]
The sugar producer Nordzucker posted an operating profit of € 81 million in the first nine months of its 2020/21 financial year compared with the loss of €9 million over the same period in the previous year.
Nordzucker posts reduced losses in 2019/20 – acquiring Mackay Sugar helped [Full subscriber]
For the 2019/20 financial year, Germany’s second-largest sugar producer Nordzucker reported reduced losses, assisted by the earnings from the Australian Mackay Sugar Limited (MSL, acquired in July 2019), and said it hopes to return to profit in 2020/21 as easing coronavirus lockdowns stabilise sugar prices and demand.
Nordzucker posts loss in H1 [Registered]
Nordzucker, Germany’s second largest sugar producer, reported a pre-tax loss of €12 million (US$ 13.3 million) in the first half in its latest trading update, citing persistent low global sugar prices.
Australia – Mackay Sugar’s shareholders approve takeover by Nordzucker [Full subscriber]
Australia’s second-largest sugar milling company, Mackay Sugar Limited, has announced that a majority of its farmer-shareholders (75%) voted on 29th July in support of a takeover by Germany’s second-largest sugar producer Nordzucker AG. The farmers will retain a 30% shareholding in return for Nordzucker’s investment in the company.
Nordzucker posts a loss – queuing up with other loss-making EU sugar companies [Full subscriber]
Trading update in late May showed that Germany’s second largest sugar producer Nordzucker joined the queue with major European sugar producers to post a loss as the industry battles against a slump in prices amidst supply glut with prices falling to a 10 year low last year with little indication that the global market will see a positive uplift anytime soon.
Australia – Nordzucker purchase of Mackay Sugar needs to traverse one hurdle [Full subscriber]
The sale of one of Australia’s largest and last remaining grower-owned sugar milling company Mackay Sugar to Nordzucker has moved a step closer, with the State Government committing AU$14 million (US$9.7 million) lifeline to facilitate the closure of a deal.
Sweden – Nordzucker invests €100 million to modernise its operations [Full subscriber]
Germany’s second-largest sugar producer Nordzucker will consolidate its sugar production in southern Sweden, closing one factory and investing €100 million in another. The move involves an undisclosed number of job losses, according to the company statement.
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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