Louis Dreyfus Company (LDC) has sold a 45% stake in ADQ. The deal helped to repay a $1.05 billion loan. The partnership opens up new opportunities for LDC and accelerates investments in new and existing areas. -finnews
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More detailsLouis Dreyfus Company (LDC) has sold a 45% stake in ADQ. The deal helped to repay a $1.05 billion loan. The partnership opens up new opportunities for LDC and accelerates investments in new and existing areas. -finnews
Hurricane Ida damaged 48,000 hectares of sugarcane crops in Louisiana, potentially reducing the harvest by 16-29%. Louisiana is the second largest producer of sugar after Florida. Sugar mills were not affected, and production delays are not expected. The losses in the state's sugar sector amount to $59 million.
France has transferred fuel stocks to sugar producers due to a possible production halt caused by a fuel shortage for machinery. The decision was made following a meeting with the Minister of Agriculture.
The increase in precipitation complicates the operation of Brazil's export ports, causing delays in loading ships with soybeans, corn, and sugar. Heavy rains and high demand worsen the issue, leading to an increase in waiting time up to 33 days and a delay in sugar deliveries.
Prices for sugar have decreased after reaching a 12-year peak due to production cuts in India, Thailand, and Brazil.
The UK expects a better sugar beet harvest and increased profitability.
Production of sugar in India may decrease due to lack of rainfall, which could lead to sugar imports in 2024. The low productivity in Maharashtra and Karnataka raises concerns about export bans and the potential for India to become a net sugar importer. The production decrease could amount to 26.9 million tons, while domestic consumption is on the rise.
India has allowed the export of 1 million tonnes of sugar by September 2025 to regulate the domestic market. This decision will help factories get rid of stocks and support stable prices.
On the National Commodity Exchange on November 22, 2024, 5 contracts of white sugar were sold, with a total volume of 640 tons. The average price was 55503 rubles per ton. Trading also took place on other exchanges. Here are the highest prices: On the National Commodity Exchange - 56500 rubles (spot trading), 54500 rubles (commodity auctions). On the Saint Petersburg Exchange - 56000 rubles.
A total of 6 sugar contracts were sold, with a total volume of 2280 tons.
Harvesting of sugarcane in India and Thailand has exceeded expectations. An increase in sugar production in the region is anticipated due to high crop yields.
Brazil is also expected to have a record sugar production in the upcoming season.
World sugar prices in New York and London continue to fall due to increased production in Brazil. In New York, the price has decreased by 0.22, and in London by 10.70. Sugar production in Brazil has increased by 84% to 1.843 million tons.
Wildfires on sugarcane plantations in Brazil have had a negative impact on the harvest. It is expected that they have destroyed up to 5 million tons of sugarcane in the state of São Paulo.
As a result, sugar prices have risen by 4.2%, causing concern in the market. The fires will exacerbate issues with processing sugarcane due to the damages incurred.
Prices for sugar are rising due to fires and drought in Brazil. The harvest has been affected, and raw sugar futures have reached a 16-year high. The company has lowered its production forecast due to fires that have affected up to 450,000 hectares. Processing may be suspended by October. The situation also affects coffee and cocoa.
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