Headlines

 

 

EU Commission eases market conditions

In the end of November the EU released 400,000 t out-of-quota for food use in the internal market and facilitated raw sugar imports from third countries by opening of a tender.  

 

 

Imperial sells stake in LSR

Imperial Sugar Company has sold its one-third joint venture interest in Louisiana Sugar Refining (LSR) for USD18mn to its partners in the joint venture, Cargill and Louisiana Sugar Growers and Refiners, Inc.

 

 

Südzucker profits from high sugar prices

Südzucker AG, raised group revenues for the first nine months (1 March 2011 to 30 November 2011) of the current financial year 2011/12 by around 12% from EUR 4.7bn to EUR5.2bn. Group operating profit increased by around EUR170mn or 41% to EUR586mn.

 

 

10 factories sold for USD922mn in Turkey

In an auction the Turkish government sold 10 sugar factories in the center and east of the country belonging to the state-owned holding company, Turkseker, for a total of USD922mn to 2 bidding consortiums.

 

 

Raizen scales down growth prospects

The Brazilian joint venture between Cosan and Shell, Raizen, has lowered its crushing forecast from 100 mn t to 80 mn t of sugarcane for the period up to 2015/16.

 

 

Sucrogen buys Proserpine mill

Proserpine Mill, near Mackay in the north of Queensland, has been sold to Wilmar International Ltd.’s Sucrogen for AUD120mn (EUR93mn) after a five-month battle between Sucrogen and Tully COFCO for ownership of the mill.

 

 

EU opens antidumping investigaton on imports of US ethanol

The European Commission has launched an anti-dumping and anti-subsidy investigation in response to increases in imports of U.S. ethanol as requested the European bioethanol producers.

 

 

EBZ reduces losses

In the financial year 2010/11 (1 July to 30 June) the EBZ posted a turnover of EUR256.0mn. For the consolidated results before taxes Hellenic Sugar reported a loss of EUR9.5mn after a loss of EUR25.8mn in 2009/10.