Fuel consumption declined sharply in Brazil in April, amid the impact of isolation measures taken to stem the spread of coronavirus, with demand for ethanol plummeting 49% year-on-year, said the minister of Mines and Energy, Bento Albuquerque, reported Reuters.
Thailand – Khonburi Sugar expects 2020/21 revenues from sugar production to drop by 25-35% [Full subscriber]
With the worst drought in Thailand in 40 years, Khonburi Sugar has acknowledged that revenue from sugar production is likely to decrease by 25-30% on the back of drop in cane production.
The Madhvani Group of Companies has said that its sugar business is not competitive in the current market – selling surplus cogenerated power and ethanol are significantly more profitable.
Angola’s Bioenergy Company (Biocom) is predicting 2018 sugar output at 100,000 tonnes. According to Fernando Koch, the Commercial Director, the company has produced 55,000 tonnes of sugar.
The largest global sugar producer Suedzucker said on 18th May that it was confident that it would secure higher earnings as the EU enters a new era with a liberalised sugar market, reported Reuters.
Nordzucker still assumes that it is unlikely to report positive earnings at the end of the current financial year. Negative factors such as the high levels of sugar stocks and tougher competition will leave their mark on the current financial year, it said. A reduction in the area under cultivation and the incipient price increases across Europe will only have an impact in the medium term.
In the sugar segment the trend of the previous two quarters continued. Revenue in the first quarter of 2015/16 fell substantially by 20.2% year-on-year, to EUR147.8 mln. The reasons were a significant reduction in sales prices and also a decrease in quantities sold into the sugar-using industry. The negative EBIT of EUR–1.9 mln was likewise attributable to the significant drop in sales prices compared with the prior year. Lower raw material costs (particularly for raw sugar) were not able to compensate for the revenue reduction.