Philippines – Sugar industry shaken by the threat from President Duterte to abolish SRA [Registered]
President Rodrigo Duterte is planning to abolish “corruption-ridden” agencies which includes the Sugar Regulatory Administration (SRA).
The American Sugar Refining (ASR) Group, owners of Belize Sugar Industries (BSI), is planning to drive productivity to make the local industry more competitive as it faces low world price of sugar and loss of preferential to European market later this year.
A steep decline in sugar and oil prices over the last six months has diminished the hope of financial recovery for a number of Brazilian mills, and could put new deal-making in the sector on hold, according to industry experts, reports Reuters.
Mexico – HFCS imports from USA and reducing exports of refined sugar under the trade pact hits some companies [Registered]
Imports of HFCS from the United States have not only displaced Mexican sugar, but also caused the closure of at least one Mexican refinery, according to Juan Cortina Gallardo, president of the National Chamber of Sugar and Alcohol Industry (CNIAA).
The Indonesian government is offering more than a sweet deal to boost investments in the sugar industry with the introduction of a new regulation, which is open for application till the end of May.
Guyana, the Caribbean trade bloc’s largest producer and exporter of raw cane sugar, is scaling back production and pulling away from the European market for the first time in nearly 400 years ahead of the liberalization of the EU sugar sector that had guaranteed export quantities from its former colonies, according to local press reports.
The Chinese Ministry of Commerce announced in mid-March that it will extend the investigation on imports of sugar made by the country between January 2011 and March 2016. The extension of term is due to the complexity of the topic. According to the ministry. The new deadline for the conclusion of the proceedings is 22 May.
Top Brazilian sugar companies listed on the local stock exchange BM&FBovespa, have resumed investing having controlled their debts, reported Valor Economico.
The European Union has indicated it would provide an additional €11 million (FJ$22.6m) assistance to the sugar sector, according to local press reports.
Newly appointed CEO of the Fiji Sugar Corporation (FSC), Graham Clark, has put on hold a number of previously planned projects to diversify and strengthen the sugar industry, according to local press reports.