To support sugarcane producers (growers, co-operatives and sugar + ethanol companies) impacted adversely by the Covid-19 pandemic, the Federal Government will provide the sector, via the National Bank for Economic and Social Development (BNDES), with a credit line of BRL7.65 billion (US$1.5 billion), through the Emergency Program to Support the Brazilian Sugar-Energy Sector (Peasse).
Hurricanes Eta and Iota have estimated to cause losses, to date, of HNL230 million (US$9.5 million) for the sugar agribusiness, according to the Association of Sugar Producers of Honduras (Apah).
Brazil’s total sugar production in the 2020-21 season (April-March) is expected to grow 32% and reach a record 39.33 million tonnes as mills allocate more cane to sugar production and less to ethanol, according to a press release from the government’s food supply agency Conab.
Indonesia, the world’s second-biggest sugar importer is fostering expansion in sugar production to cut imports, reported Bloomberg
Ghana – Take 3! Agrotech to invest US$21 million for cane production infrastructure for the idled Komenda Sugar [Full subscriber]
The University of Cape Coast (UCC) recently signed a Memorandum of Understanding (MoU) with Park Agrotech Ghana Limited, to establish cane production infrastructure to support the beleaguered Komenda Sugar Factory which has been hampered by an adequate supply of cane when the factory was opened a few years ago.
Sugar beet acreage decreased this year by about 80,000 acres (32,375 ha), registering 520,000 acres compared to 600,000 acres last season, a decrease of 13.3, according to the media outlet Al-Arabi Al-Jadeed.
The fertilizer shortage crisis in the governorates of Upper Egypt (South) impacted by supply chain disruptions due to the Covid-19 pandemic is likely to adversely impact cane output, according to local press reports.
Brazil – BNDES to finance two projects to upgrade cane production worth US$32 million [Full subscriber]
The Brazilian development bank BNDES recently approved financing of $ 98.7 million (US$ 24.48 million) to Canápolis Açúcar e Etanol SA and BRL30 million (US$7.46 million) to Vale do Paracatu Distillery to expand and upgrade their cane production operations.
The Angolan government announced on 12 December ‘19 that the country needs 10,000 sugarcane growers to increase cane production and reduce imports of sugar, which from January to October 2019 alone cost the state US$137 million dollars, according to local press reports.
Nicaragua Sugar Estates loaned US$37.5 million by IDB to upgrade cane production operations [Full subscriber]
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, recently granted a loan of up to US$ 37.5 million to Nicaragua Sugar Estates Limited, a leading company in the Nicaraguan sugar sector to upgrade sugarcane production operations that will mitigate climate change impacts.