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Beleggen in suiker
- nobody
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Re: Beleggen in suiker
Hippo Valley reports 7% decline in domestic sales
ZIMBABWE – Hippo Valley Estates, Zimbabwe’s largest sugar producer, has reported a 7 percent decline in domestic sales for the first quarter ending June 2024.
The company attributes this drop to the lingering effects of duty-free sugar imports and a sluggish start from local sugar refineries.
According to Canaan Dube, Chairman of Hippo Valley Estates Ltd, the influx of sugar imports from regional countries and beyond, including fortified sugar, has put pressure on the local market.
“Domestic sales for the quarter dropped by seven percent in comparison to the prior period, with the spillover effects of duty-free sugar imports still noticeable during the period under review. Sales performance was also impacted by a slow start from the country’s sugar refineries, but this has since recovered,” Dube explained.
Despite the decline in domestic sales, Hippo Valley’s revenue for the quarter grew by 15 percent, driven by an improved sales mix and better price realizations.
However, this revenue growth was insufficient to counterbalance the rising costs of doing business, particularly in terms of manpower and cane expenses.
The introduction of Zimbabwe’s ZiG currency, intended to stabilize the economy, has further complicated the financial landscape for Hippo Valley.
The widening gap between the formal and parallel market exchange rates, which reached a premium of 74 percent by July, has made it increasingly challenging for the company to secure the necessary USD for critical imports and local supplies.
Despite the decline, Hippo Valley reported a 6 percent increase in sugar production, fueled by improved yields and increased harvesting targets.
The company’s sugarcane production rose by 3 percent, reaching 297,902 tonnes, supported by consistent cane delivery rates
Private farmers also played a significant role, contributing to an 18 percent rise in output, which led to a 9 percent increase in total sugar production, reaching 519,086 tonnes.
This resulted in a 10 percent boost in total industry sugar production, totaling 124,059 tonnes.
Looking ahead, Hippo Valley remains optimistic, leveraging its strong market position to advocate for policies that support local sugar production.
Hippo Valley forecasts a production range of 395,000 to 400,000 metric tons of sugar for FY25, with projected revenue reaching US$385 million, up from US$366 million in the previous year.
The company is also targeting a 4 percent increase in cane harvesting and private farmer deliveries in the 2024/25 season to enhance milling efficiencies and overall sugar production.
https://www.foodbusinessafrica.com/hipp ... tic-sales/
ZIMBABWE – Hippo Valley Estates, Zimbabwe’s largest sugar producer, has reported a 7 percent decline in domestic sales for the first quarter ending June 2024.
The company attributes this drop to the lingering effects of duty-free sugar imports and a sluggish start from local sugar refineries.
According to Canaan Dube, Chairman of Hippo Valley Estates Ltd, the influx of sugar imports from regional countries and beyond, including fortified sugar, has put pressure on the local market.
“Domestic sales for the quarter dropped by seven percent in comparison to the prior period, with the spillover effects of duty-free sugar imports still noticeable during the period under review. Sales performance was also impacted by a slow start from the country’s sugar refineries, but this has since recovered,” Dube explained.
Despite the decline in domestic sales, Hippo Valley’s revenue for the quarter grew by 15 percent, driven by an improved sales mix and better price realizations.
However, this revenue growth was insufficient to counterbalance the rising costs of doing business, particularly in terms of manpower and cane expenses.
The introduction of Zimbabwe’s ZiG currency, intended to stabilize the economy, has further complicated the financial landscape for Hippo Valley.
The widening gap between the formal and parallel market exchange rates, which reached a premium of 74 percent by July, has made it increasingly challenging for the company to secure the necessary USD for critical imports and local supplies.
Despite the decline, Hippo Valley reported a 6 percent increase in sugar production, fueled by improved yields and increased harvesting targets.
The company’s sugarcane production rose by 3 percent, reaching 297,902 tonnes, supported by consistent cane delivery rates
Private farmers also played a significant role, contributing to an 18 percent rise in output, which led to a 9 percent increase in total sugar production, reaching 519,086 tonnes.
This resulted in a 10 percent boost in total industry sugar production, totaling 124,059 tonnes.
Looking ahead, Hippo Valley remains optimistic, leveraging its strong market position to advocate for policies that support local sugar production.
Hippo Valley forecasts a production range of 395,000 to 400,000 metric tons of sugar for FY25, with projected revenue reaching US$385 million, up from US$366 million in the previous year.
The company is also targeting a 4 percent increase in cane harvesting and private farmer deliveries in the 2024/25 season to enhance milling efficiencies and overall sugar production.
https://www.foodbusinessafrica.com/hipp ... tic-sales/
- nobody
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- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
- Heeft bedankt: 1990 maal
- Is bedankt: 2852 maal
Re: Beleggen in suiker
Kenya suspends sugar imports amid increased domestic production
KENYA – The Kenya Border Control and Operations Coordination Committee has announced the suspension of sugar imports into the country, citing a significant rise in domestic production as the primary reason for the directive.
Raymond Omollo, the Interior Principal Secretary and chair of the committee, issued the directive to border management committee chairpersons across 27 regions to enforce the ban.
Omollo highlighted the ongoing reforms within the sugar industry, stating, “In light of the ongoing reforms within the sugar industry, it is evident that domestic sugar production is currently sufficient to meet national demand.”
According to data from the Agriculture and Food Authority (AFA), local sugar production saw substantial increases in June and July 2024, with averages of 75,500 metric tonnes and 80,500 metric tonnes per month, respectively.
Kenya’s annual sugar consumption is 1.1 million metric tonnes, with an average monthly consumption of 80,000 metric tonnes.
The suspension of sugar imports comes as part of broader efforts to protect and sustain the growth of the domestic sugar industry.
Omollo emphasized the importance of supporting the ongoing revival of sugar mills, which is expected to further enhance the industry’s growth and bolster the economies of sugarcane-farming communities.
“To sustain this positive trajectory, it is essential to protect the industry by halting sugar imports,” he stated in a letter dated August 22, 2024.
In addition to the import ban, Omollo directed border management committee chairpersons to collaborate within the multi-agency framework to conduct raids on illegal sugar imports.
The chairpersons are also required to provide updates on the matter and submit monthly reports to the Border Management Secretariat.
The suspension follows concerns raised by cane farmers over declining sugarcane prices.
In August, the AFA reduced the price millers were required to pay farmers from KES 5,125 to KES 4,950 (US$38.45) per tonne, attributing the decline to increased cane production since the resumption of milling in December 2023.
However, after farmer protests, the government revised the price upward to KES 5,000 (US$38.84) per tonne, effective August 22, 2024.
Additionally, farmers are set to receive bonuses for their produce as part of the government’s ongoing reforms.
https://www.foodbusinessafrica.com/keny ... roduction/
KENYA – The Kenya Border Control and Operations Coordination Committee has announced the suspension of sugar imports into the country, citing a significant rise in domestic production as the primary reason for the directive.
Raymond Omollo, the Interior Principal Secretary and chair of the committee, issued the directive to border management committee chairpersons across 27 regions to enforce the ban.
Omollo highlighted the ongoing reforms within the sugar industry, stating, “In light of the ongoing reforms within the sugar industry, it is evident that domestic sugar production is currently sufficient to meet national demand.”
According to data from the Agriculture and Food Authority (AFA), local sugar production saw substantial increases in June and July 2024, with averages of 75,500 metric tonnes and 80,500 metric tonnes per month, respectively.
Kenya’s annual sugar consumption is 1.1 million metric tonnes, with an average monthly consumption of 80,000 metric tonnes.
The suspension of sugar imports comes as part of broader efforts to protect and sustain the growth of the domestic sugar industry.
Omollo emphasized the importance of supporting the ongoing revival of sugar mills, which is expected to further enhance the industry’s growth and bolster the economies of sugarcane-farming communities.
“To sustain this positive trajectory, it is essential to protect the industry by halting sugar imports,” he stated in a letter dated August 22, 2024.
In addition to the import ban, Omollo directed border management committee chairpersons to collaborate within the multi-agency framework to conduct raids on illegal sugar imports.
The chairpersons are also required to provide updates on the matter and submit monthly reports to the Border Management Secretariat.
The suspension follows concerns raised by cane farmers over declining sugarcane prices.
In August, the AFA reduced the price millers were required to pay farmers from KES 5,125 to KES 4,950 (US$38.45) per tonne, attributing the decline to increased cane production since the resumption of milling in December 2023.
However, after farmer protests, the government revised the price upward to KES 5,000 (US$38.84) per tonne, effective August 22, 2024.
Additionally, farmers are set to receive bonuses for their produce as part of the government’s ongoing reforms.
https://www.foodbusinessafrica.com/keny ... roduction/
- nobody
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- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
- Heeft bedankt: 1990 maal
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Re: Beleggen in suiker
Tanzania pledges support for sugar factory owners amid plans to boost production
TANZANIA – Tanzania has reaffirmed its commitment to supporting sugar factory owners in a bid to enhance local production and create a favorable investment climate.
Speaking during a visit to Bagamoyo Sugar Factory, the country’s Minister of Industry and Trade, Selemani Jafo, highlighted the government’s dedication to protecting the industry and fostering its growth.
Jafo emphasized President Samia Suluhu Hassan’s strong commitment to ensuring the stability of sugar factories across Tanzania.
“I oversee this industrial sector, and it is my responsibility to create a conducive environment,” he stated, reaffirming the government’s intention to support factories in overcoming production challenges.
Bagamoyo Sugar Factory currently produces 80,000 tonnes of sugar annually. With planned expansions, this output is expected to increase to 100,000 tonnes.
The expansion will not only boost production but also create 1,500 additional jobs, contributing to the local economy.
Tanzania’s sugar consumption stands at 800,000 tonnes per year, and the government aims to meet this demand domestically by 2027.
Minister Jafo expressed optimism that the country will achieve sugar self-sufficiency within the next few years, ultimately eliminating the need for imports and positioning Tanzania to export surplus sugar to other markets.
In July, the Tanzania Sugar Producers Association (TSPA) announced that local sugar producers had initiated expansion projects aimed at meeting national demand by the end of the 2024-25 fiscal year.
Local production reached 460,200 tonnes in 2023, up from about 300,000 tonnes in 2015, thanks to collaboration between the firms and the government to protect local investment and curb irregular sugar imports.
The TSPA highlighted that a favourable investment climate has enabled local investors to inject more capital into expanding their operations.
Tanzania plans to elevate sugar production from an average of 460,048 tonnes recorded in 2022/2023 to 706,000 tonnes by the conclusion of the 2025/2026 fiscal year.
https://www.foodbusinessafrica.com/tanz ... roduction/
TANZANIA – Tanzania has reaffirmed its commitment to supporting sugar factory owners in a bid to enhance local production and create a favorable investment climate.
Speaking during a visit to Bagamoyo Sugar Factory, the country’s Minister of Industry and Trade, Selemani Jafo, highlighted the government’s dedication to protecting the industry and fostering its growth.
Jafo emphasized President Samia Suluhu Hassan’s strong commitment to ensuring the stability of sugar factories across Tanzania.
“I oversee this industrial sector, and it is my responsibility to create a conducive environment,” he stated, reaffirming the government’s intention to support factories in overcoming production challenges.
Bagamoyo Sugar Factory currently produces 80,000 tonnes of sugar annually. With planned expansions, this output is expected to increase to 100,000 tonnes.
The expansion will not only boost production but also create 1,500 additional jobs, contributing to the local economy.
Tanzania’s sugar consumption stands at 800,000 tonnes per year, and the government aims to meet this demand domestically by 2027.
Minister Jafo expressed optimism that the country will achieve sugar self-sufficiency within the next few years, ultimately eliminating the need for imports and positioning Tanzania to export surplus sugar to other markets.
In July, the Tanzania Sugar Producers Association (TSPA) announced that local sugar producers had initiated expansion projects aimed at meeting national demand by the end of the 2024-25 fiscal year.
Local production reached 460,200 tonnes in 2023, up from about 300,000 tonnes in 2015, thanks to collaboration between the firms and the government to protect local investment and curb irregular sugar imports.
The TSPA highlighted that a favourable investment climate has enabled local investors to inject more capital into expanding their operations.
Tanzania plans to elevate sugar production from an average of 460,048 tonnes recorded in 2022/2023 to 706,000 tonnes by the conclusion of the 2025/2026 fiscal year.
https://www.foodbusinessafrica.com/tanz ... roduction/
- nobody
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- Berichten: 14560
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Re: Beleggen in suiker
Branden op Braziliaanse suikerplantages stuwen suikerprijs verder op
Braziliaanse suikerplantages worden geteisterd door brand, voortkomend uit extreme droogte. Daardoor dreigt de suikerprijs deze week met 16 procent te stijgen. Dat is sinds 2008 niet meer zo hard gegaan.
Op de velden waar brand heeft gewoed, moeten boeren nieuwe suikerriet planten. Daardoor zal de oogst volgend jaar ook tegenvallen, verwachten handelaren. De prijzen van chocola en snoep in de Nederlandse schappen kunnen daardoor ook verder stijgen.
Op de grondstoffenmarkt in New York ligt de prijs op koers om in een week bijna 16 procent te stijgen. Dit zou de grootste toename op weekbasis sinds augustus 2008 betekenen.
Suikerboeren in Brazilië kampen al sinds oktober vorig jaar met droogte en branden. In een deel van het land is het aantal branden deze zomer gestegen tot recordhoogte.
"De droge omstandigheden en mogelijke daling in de productie zijn al langer bekend, maar recente berichten hebben de zorgen verergerd", zegt marktanalist Mark Bowman. Ook komende week blijft Brazilië kampen met droogte, al is er wel wat regen voorspeld.
Eerder deze week steeg de prijs van Braziliaanse arabicabonen tot het hoogste niveau in dertien jaar. Ook die oogst gaat gebukt onder de droogte.
https://www.nu.nl/economie/6328949/bran ... er-op.html
Braziliaanse suikerplantages worden geteisterd door brand, voortkomend uit extreme droogte. Daardoor dreigt de suikerprijs deze week met 16 procent te stijgen. Dat is sinds 2008 niet meer zo hard gegaan.
Op de velden waar brand heeft gewoed, moeten boeren nieuwe suikerriet planten. Daardoor zal de oogst volgend jaar ook tegenvallen, verwachten handelaren. De prijzen van chocola en snoep in de Nederlandse schappen kunnen daardoor ook verder stijgen.
Op de grondstoffenmarkt in New York ligt de prijs op koers om in een week bijna 16 procent te stijgen. Dit zou de grootste toename op weekbasis sinds augustus 2008 betekenen.
Suikerboeren in Brazilië kampen al sinds oktober vorig jaar met droogte en branden. In een deel van het land is het aantal branden deze zomer gestegen tot recordhoogte.
"De droge omstandigheden en mogelijke daling in de productie zijn al langer bekend, maar recente berichten hebben de zorgen verergerd", zegt marktanalist Mark Bowman. Ook komende week blijft Brazilië kampen met droogte, al is er wel wat regen voorspeld.
Eerder deze week steeg de prijs van Braziliaanse arabicabonen tot het hoogste niveau in dertien jaar. Ook die oogst gaat gebukt onder de droogte.
https://www.nu.nl/economie/6328949/bran ... er-op.html
- nobody
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- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
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Re: Beleggen in suiker
Brazil sugar losses make Thai and Indian supply more important
(Sept 25): Brazil’s wildfires and drought that rattled the global sugar market have put the onus on Thailand and India to cover lost supplies. But both have offered recent reminders that they too face their own risks.
Futures spiked to the highest since February this week as fears mount over crop damage from blazes, heat and dryness in top grower and exporter Brazil. That’s threatening to raise costs for grocery goods from soft drinks to candy and shifting traders’ focus to how output fares in fellow major producers.
The good news is that the crop in No 2 shipper Thailand is expected to rebound in the upcoming 2024-25 season. Yet September floods have provided a fresh warning of weather risks, with worries starting to surface that harvesting may be delayed if heavy rains continue. And in second-largest grower India, support for ethanol production means officials will likely prolong sugar-export curbs.
“The sugar market is sitting on a powder keg and we just need another light to set it on fire,” said Henrique Akamine, head of sugar and ethanol at Tropical Research Services.
The unexpected supply shock from recent weather in Brazil helped raw-sugar futures surge 19% so far this month in New York. The price jump has also been fuelled by speculators turning bullish for the first time since July. The market has more room to rally as net-long positions are still far below historical peaks, according to John Stansfield, a senior analyst at DNEXT Intelligence.
“Sugar has one of the clearest bullish fundamental stories,” he said. “The funds can see the black hole in the raw-sugar balance sheet in the first and second quarter of 2025, and like the trade are struggling to see how Thai raws can fill the gap.”
The raw-sugar market should be in a global trade deficit of 2.2 million tons in the first quarter, according to Akamine, while independent analyst Claudiu Covrig pegs the amount at 1.3 million tons. The International Sugar Organization last month forecast sugar output to trail consumption by 3.6 million tons in 2024-25, a bigger shortage than the current season that’s about to end.
The tight supplies mean prices could climb even higher if there are more harvest setbacks.
For now, Thailand’s 2024-25 sugar output is expected to reach 10.6 million tons, up from 8.8 million tons a year earlier, according to the average of eight analyst and trader estimates compiled by Bloomberg.
While there’s no sign of recent floods there affecting plantations, the market is keeping a close eye on conditions. If rain persists until November, that could delay crushing from the new harvest until January — about a month later than usual — Virit Viseshsindh, the secretary-general of the Office of the Cane and Sugar Board, said in an interview on Tuesday.
Any delays would risk choking supplies into the world market at a time when Brazil’s shipments typically slow — something that Tropical Research Services’s Akamine said would “have severe consequences”.
Indian prospects
India’s output should total about 30 million tons after diversions to make ethanol, according to the average estimate of 11 traders and analysts surveyed. That would be roughly two million tons below a year earlier, though outlooks ranged partly due to different views on acreage.
It’s unclear whether any will go to other nations. The government last year extended export curbs to keep local prices in check ahead of elections. Last month, it lifted restrictions on mills and distilleries using cane juice to make ethanol, a move that will help meet a target of boosting the proportion of the fuel in gasoline blends while also probably prolonging sugar-export curbs.
India in theory should have enough sugar to allow 1.8 million tons of shipments in 2024-25 and may ease export restrictions if there are ample domestic supplies, said Rahil Shaikh, managing director of Meir Commodities India Pvt, a Mumbai-based trading firm.
However, many respondents in Bloomberg’s survey don’t think the government will allow exports. DNEXT Intelligence’s Stansfield also doesn’t expect much relief from India.
“It is now becoming clearer that India will prioritise the ethanol sector and the world sugar market realistically cannot expect to see India coming to the rescue,” he said.
Uploaded by Chng Shear Lane
https://theedgemalaysia.com/node/727922
(Sept 25): Brazil’s wildfires and drought that rattled the global sugar market have put the onus on Thailand and India to cover lost supplies. But both have offered recent reminders that they too face their own risks.
Futures spiked to the highest since February this week as fears mount over crop damage from blazes, heat and dryness in top grower and exporter Brazil. That’s threatening to raise costs for grocery goods from soft drinks to candy and shifting traders’ focus to how output fares in fellow major producers.
The good news is that the crop in No 2 shipper Thailand is expected to rebound in the upcoming 2024-25 season. Yet September floods have provided a fresh warning of weather risks, with worries starting to surface that harvesting may be delayed if heavy rains continue. And in second-largest grower India, support for ethanol production means officials will likely prolong sugar-export curbs.
“The sugar market is sitting on a powder keg and we just need another light to set it on fire,” said Henrique Akamine, head of sugar and ethanol at Tropical Research Services.
The unexpected supply shock from recent weather in Brazil helped raw-sugar futures surge 19% so far this month in New York. The price jump has also been fuelled by speculators turning bullish for the first time since July. The market has more room to rally as net-long positions are still far below historical peaks, according to John Stansfield, a senior analyst at DNEXT Intelligence.
“Sugar has one of the clearest bullish fundamental stories,” he said. “The funds can see the black hole in the raw-sugar balance sheet in the first and second quarter of 2025, and like the trade are struggling to see how Thai raws can fill the gap.”
The raw-sugar market should be in a global trade deficit of 2.2 million tons in the first quarter, according to Akamine, while independent analyst Claudiu Covrig pegs the amount at 1.3 million tons. The International Sugar Organization last month forecast sugar output to trail consumption by 3.6 million tons in 2024-25, a bigger shortage than the current season that’s about to end.
The tight supplies mean prices could climb even higher if there are more harvest setbacks.
For now, Thailand’s 2024-25 sugar output is expected to reach 10.6 million tons, up from 8.8 million tons a year earlier, according to the average of eight analyst and trader estimates compiled by Bloomberg.
While there’s no sign of recent floods there affecting plantations, the market is keeping a close eye on conditions. If rain persists until November, that could delay crushing from the new harvest until January — about a month later than usual — Virit Viseshsindh, the secretary-general of the Office of the Cane and Sugar Board, said in an interview on Tuesday.
Any delays would risk choking supplies into the world market at a time when Brazil’s shipments typically slow — something that Tropical Research Services’s Akamine said would “have severe consequences”.
Indian prospects
India’s output should total about 30 million tons after diversions to make ethanol, according to the average estimate of 11 traders and analysts surveyed. That would be roughly two million tons below a year earlier, though outlooks ranged partly due to different views on acreage.
It’s unclear whether any will go to other nations. The government last year extended export curbs to keep local prices in check ahead of elections. Last month, it lifted restrictions on mills and distilleries using cane juice to make ethanol, a move that will help meet a target of boosting the proportion of the fuel in gasoline blends while also probably prolonging sugar-export curbs.
India in theory should have enough sugar to allow 1.8 million tons of shipments in 2024-25 and may ease export restrictions if there are ample domestic supplies, said Rahil Shaikh, managing director of Meir Commodities India Pvt, a Mumbai-based trading firm.
However, many respondents in Bloomberg’s survey don’t think the government will allow exports. DNEXT Intelligence’s Stansfield also doesn’t expect much relief from India.
“It is now becoming clearer that India will prioritise the ethanol sector and the world sugar market realistically cannot expect to see India coming to the rescue,” he said.
Uploaded by Chng Shear Lane
https://theedgemalaysia.com/node/727922
- nobody
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- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
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Re: Beleggen in suiker
National Food Reserve Agency to spend US$74M on sugar as buffer against price increases
TANZANIA – Tanzania’s National Food Reserve Agency (NFRA) has announced plans to spend TSH 202 billion (US$74M) to purchase 92,000 tonnes of sugar in an effort to stabilize prices and ensure adequate supply.
The initiative is aimed at preventing unnecessary price hikes due to supply shortages or reliance on imports.
According to Andrew Komba, NFRA’s chief executive officer, the sugar acquisition will be overseen by the Sugar Board of Tanzania (SBT).
The agency is also preparing to improve its storage facilities to effectively manage the additional sugar stock.
“This will automatically provide a buffer when stocks run low, and sugar has to be imported,” Komba explained.
As part of its broader strategy to expand its storage capacity, NFRA is planning to acquire 19 warehouses from the Tanzania Initiative for Preventing Aflatoxin Contamination (TANIPAC).
Additionally, the agency intends to build 12 new warehouses with a combined storage capacity of 50,000 tonnes, while renovating six existing storage towers located in Sumbawanga, Dar es Salaam, Songea, and Arusha.
Currently, NFRA’s storage capacity stands at 365,000 tonnes. The agency aims to double this by June 2024, with a long-term target of reaching a capacity of 3 million tonnes by 2030.
This move comes as the Tanzanian government reaffirms its commitment to supporting sugar factory owners to boost local production and foster a favorable investment climate.
Minister of Industry and Trade, Selemani Jafo, emphasized President Samia Suluhu Hassan’s dedication to ensuring stability in the sugar industry.
In July, the Tanzania Sugar Producers Association (TSPA) revealed that local producers have initiated expansion projects aimed at meeting the country’s sugar demand by the end of the 2024-25 fiscal year.
The Bagamoyo Sugar Factory, for instance, is undergoing expansions that will increase its annual output by 20,000 tonnes, bringing the total to 100,000 tonnes.
Tanzania’s annual sugar consumption stands at 800,000 tonnes.
The government is working towards meeting this demand domestically by 2027, with local production already increasing to 460,200 tonnes in 2023, up from 300,000 tonnes in 2015.
The country aims to boost sugar production to 706,000 tonnes by 2025-2026.
https://www.foodbusinessafrica.com/nati ... increases/
TANZANIA – Tanzania’s National Food Reserve Agency (NFRA) has announced plans to spend TSH 202 billion (US$74M) to purchase 92,000 tonnes of sugar in an effort to stabilize prices and ensure adequate supply.
The initiative is aimed at preventing unnecessary price hikes due to supply shortages or reliance on imports.
According to Andrew Komba, NFRA’s chief executive officer, the sugar acquisition will be overseen by the Sugar Board of Tanzania (SBT).
The agency is also preparing to improve its storage facilities to effectively manage the additional sugar stock.
“This will automatically provide a buffer when stocks run low, and sugar has to be imported,” Komba explained.
As part of its broader strategy to expand its storage capacity, NFRA is planning to acquire 19 warehouses from the Tanzania Initiative for Preventing Aflatoxin Contamination (TANIPAC).
Additionally, the agency intends to build 12 new warehouses with a combined storage capacity of 50,000 tonnes, while renovating six existing storage towers located in Sumbawanga, Dar es Salaam, Songea, and Arusha.
Currently, NFRA’s storage capacity stands at 365,000 tonnes. The agency aims to double this by June 2024, with a long-term target of reaching a capacity of 3 million tonnes by 2030.
This move comes as the Tanzanian government reaffirms its commitment to supporting sugar factory owners to boost local production and foster a favorable investment climate.
Minister of Industry and Trade, Selemani Jafo, emphasized President Samia Suluhu Hassan’s dedication to ensuring stability in the sugar industry.
In July, the Tanzania Sugar Producers Association (TSPA) revealed that local producers have initiated expansion projects aimed at meeting the country’s sugar demand by the end of the 2024-25 fiscal year.
The Bagamoyo Sugar Factory, for instance, is undergoing expansions that will increase its annual output by 20,000 tonnes, bringing the total to 100,000 tonnes.
Tanzania’s annual sugar consumption stands at 800,000 tonnes.
The government is working towards meeting this demand domestically by 2027, with local production already increasing to 460,200 tonnes in 2023, up from 300,000 tonnes in 2015.
The country aims to boost sugar production to 706,000 tonnes by 2025-2026.
https://www.foodbusinessafrica.com/nati ... increases/
- nobody
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- Berichten: 14560
- Lid geworden op: 09 mar 2022 13:32
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Re: Beleggen in suiker
Sugarcane farmers propose two-year delay for quality-based cane payment system rollout
KENYA – Sugarcane farmers in the Nyando Sugar Belt have proposed a two-year delay before implementing the Quality-Based Cane Payment System (QBCPS).
The farmers, who gathered for a public participation session on the QBCPS Regulations 2023, expressed both optimism and concerns regarding the new payment method, which will base payments on the sucrose content of the cane.
Atyang, a farmer from Muhoroni, expressed support for the new regulations, stating that they would protect farmers from exploitation by millers.
“Millers are stealing from us; the new method will absolutely address that concern,” he said.
Atyang added that the shift to sucrose-based payments would encourage farmers to add value to their sugarcane.
While the farmers generally welcomed the changes, some proposed delaying the rollout for two years to allow time for cane preparation.
“Give us two years so that we can prepare our cane for sucrose content payments,” said tagged by Capital Business.
She noted that although farmers are ready to embrace the new payment system, rushing its implementation could lead to challenges.
Richard Magero, Deputy Director at the Agriculture and Food Authority, assured farmers that the government had developed several high-sucrose cane varieties to assist in the transition.
He said 27 locally bred varieties, known for their disease resistance, early maturation, and high sucrose content, are available for farmers to plant.
Magero also pointed out that while the Sugar Act 2001 mandates cane prices to be based on sucrose content, the lack of proper facilities has delayed implementation.
He revealed that two Sugar Testing Units (STUs) are currently piloting in Nzoia and Sony Sugar mills, with nine others operational in both government and private mills.
The rollout of the QBCPS is expected to begin six months after the regulations are gazetted.
Magero urged farmers to adopt better farming practices to ensure higher sucrose content in their crops.
He also warned millers that operating without STUs would result in penalties, including fines of up to KES5 million or imprisonment for up to a year.
Farmers have called for additional education on the new model to help them maximize the sucrose content in their sugarcane.
https://www.foodbusinessafrica.com/suga ... m-rollout/
KENYA – Sugarcane farmers in the Nyando Sugar Belt have proposed a two-year delay before implementing the Quality-Based Cane Payment System (QBCPS).
The farmers, who gathered for a public participation session on the QBCPS Regulations 2023, expressed both optimism and concerns regarding the new payment method, which will base payments on the sucrose content of the cane.
Atyang, a farmer from Muhoroni, expressed support for the new regulations, stating that they would protect farmers from exploitation by millers.
“Millers are stealing from us; the new method will absolutely address that concern,” he said.
Atyang added that the shift to sucrose-based payments would encourage farmers to add value to their sugarcane.
While the farmers generally welcomed the changes, some proposed delaying the rollout for two years to allow time for cane preparation.
“Give us two years so that we can prepare our cane for sucrose content payments,” said tagged by Capital Business.
She noted that although farmers are ready to embrace the new payment system, rushing its implementation could lead to challenges.
Richard Magero, Deputy Director at the Agriculture and Food Authority, assured farmers that the government had developed several high-sucrose cane varieties to assist in the transition.
He said 27 locally bred varieties, known for their disease resistance, early maturation, and high sucrose content, are available for farmers to plant.
Magero also pointed out that while the Sugar Act 2001 mandates cane prices to be based on sucrose content, the lack of proper facilities has delayed implementation.
He revealed that two Sugar Testing Units (STUs) are currently piloting in Nzoia and Sony Sugar mills, with nine others operational in both government and private mills.
The rollout of the QBCPS is expected to begin six months after the regulations are gazetted.
Magero urged farmers to adopt better farming practices to ensure higher sucrose content in their crops.
He also warned millers that operating without STUs would result in penalties, including fines of up to KES5 million or imprisonment for up to a year.
Farmers have called for additional education on the new model to help them maximize the sucrose content in their sugarcane.
https://www.foodbusinessafrica.com/suga ... m-rollout/
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Re: Beleggen in suiker
Sugar industry calls for six-year freeze on sugar tax
SOUTH AFRICA – South Africa’s sugar industry is urging the government to impose a six-year moratorium on increases to the Health Promotion Levy (HPL), commonly known as the sugar tax, to prevent the potential collapse of the industry and avert the loss of nearly 300,000 jobs.
The South African Sugar Association (SASA) has requested the National Treasury to extend the freeze on the levy until 2030 to give the sector time to recover and implement further reforms under the Sugar Master Plan.
South Africa introduced the HPL in 2018, becoming the first country in Africa to impose a tax on sweetened beverages with a sugar content exceeding 4g per 100ml.
The tax was implemented in response to a growing public health crisis caused by rising levels of obesity and diabetes. Currently, the tax is set at 2.1 cents per gram of sugar above the threshold.
In February 2023, Finance Minister Enoch Godongwana granted a temporary reprieve, announcing no increases to the tax for the following two fiscal years.
However, this grace period is set to expire in February 2025, raising concerns within the sugar industry.
SASA CEO, Trix Trikam, highlighted the severe impact the levy has already had on the sector, especially as the beverage industry is the sugar industry’s largest customer.
Trikam warned that any further increases in the HPL would deal a crippling blow to sugarcane farmers, as the cost of production would far outweigh the prices they receive for their crops, potentially forcing them to abandon sugarcane farming altogether.
“The farmers are going to be in trouble. They will not be able to survive because the cost of production of sugarcane will be much higher than what they receive,” Trikam stated.
SASA has emphasized the importance of advancing to phase two of the Sugar Master Plan 2030, which focuses on ensuring the long-term viability of the sector.
Phase one, which concluded in March 2023, helped stabilize the industry and restore local market sales that had been lost due to the HPL.
The industry now seeks to diversify beyond sugar production into products such as bioethanol and co-generated electricity.
Sifiso Mhlaba, SASA’s National Market and Trade Policy Director said, “We are wanting to move from a sugar industry to a sugarcane-based industry, producing sugar as well as other products.”
He added that the industry also aims to contribute to the country’s economic and social development while creating prosperity for all players in the value chain.
SASA has called on the government for continued support to help the industry realize its diversification goals and ensure its long-term sustainability.
https://www.foodbusinessafrica.com/suga ... sugar-tax/
SOUTH AFRICA – South Africa’s sugar industry is urging the government to impose a six-year moratorium on increases to the Health Promotion Levy (HPL), commonly known as the sugar tax, to prevent the potential collapse of the industry and avert the loss of nearly 300,000 jobs.
The South African Sugar Association (SASA) has requested the National Treasury to extend the freeze on the levy until 2030 to give the sector time to recover and implement further reforms under the Sugar Master Plan.
South Africa introduced the HPL in 2018, becoming the first country in Africa to impose a tax on sweetened beverages with a sugar content exceeding 4g per 100ml.
The tax was implemented in response to a growing public health crisis caused by rising levels of obesity and diabetes. Currently, the tax is set at 2.1 cents per gram of sugar above the threshold.
In February 2023, Finance Minister Enoch Godongwana granted a temporary reprieve, announcing no increases to the tax for the following two fiscal years.
However, this grace period is set to expire in February 2025, raising concerns within the sugar industry.
SASA CEO, Trix Trikam, highlighted the severe impact the levy has already had on the sector, especially as the beverage industry is the sugar industry’s largest customer.
Trikam warned that any further increases in the HPL would deal a crippling blow to sugarcane farmers, as the cost of production would far outweigh the prices they receive for their crops, potentially forcing them to abandon sugarcane farming altogether.
“The farmers are going to be in trouble. They will not be able to survive because the cost of production of sugarcane will be much higher than what they receive,” Trikam stated.
SASA has emphasized the importance of advancing to phase two of the Sugar Master Plan 2030, which focuses on ensuring the long-term viability of the sector.
Phase one, which concluded in March 2023, helped stabilize the industry and restore local market sales that had been lost due to the HPL.
The industry now seeks to diversify beyond sugar production into products such as bioethanol and co-generated electricity.
Sifiso Mhlaba, SASA’s National Market and Trade Policy Director said, “We are wanting to move from a sugar industry to a sugarcane-based industry, producing sugar as well as other products.”
He added that the industry also aims to contribute to the country’s economic and social development while creating prosperity for all players in the value chain.
SASA has called on the government for continued support to help the industry realize its diversification goals and ensure its long-term sustainability.
https://www.foodbusinessafrica.com/suga ... sugar-tax/
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