Sugar Industry News
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Updated : Wed, 10 Mar 2010 07:33:40 +0200
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CARACAS, Venezuela Venezuela's government seized control of two sugar mills Tuesday and threatened to expropriate them, accusing managers of hoarding a basic good and violating the labor rights of employees.
Venezuela takes temporary control of 2 sugar mills, alleging 'hoarding' amid price controlsCARACAS, Venezuela (AP) Venezuela's government seized control of two sugar mills Tuesday and threatened to expropriate them, accusing managers of hoarding a basic good and violating the labor rights of employees.
LA cops seek man who robbed Florida sugar baronLOS ANGELES A well-dressed man who talked his way into a Florida sugar baron's hotel room and stole tens of thousands of dollars worth of jewelry may be the same person who pulled similar scams on a Mexican soccer team, a salsa band and an Israeli basketball team when they visited Los Angeles, police said Tuesday.
Key vote nears on Crist's Everglades restoration purchase of U.S. Sugar landIt's hard to overestimate how personally important Gov. Charlie Crist considers the half-billion-dollar land deal he brokered with U.S. Sugar Corp. in the name of Everglades restoration.
Kan. lawmaker supports tax on sugar in sodaTOPEKA - Kansas would impose a new tax on soda - a penny for every teaspoon of sugar - under a proposal that a key legislator outlined Tuesday while lawmakers considered raising taxes to erase a projected budget shortfall.
Sugar revivalFORTY-TWO landowners in Tavua received assistance through the sugar farming assistance program but their land remains idle with no investment seen on their farms.
Sugar baron robbed of jewellery worth millionsMr Fanjul and his wife, Emilia, who were in the city for the Oscars celebrations, were reportedly robbed by a man posing as a technician at the Beverly Hills Four Seasons Hotel.
Still no ruling on GM sugar beetsA federal court judge has yet to reach a decision about whether the cultivation of genetically modified (GM) sugar beets should be blocked until an Environmental Impact Statement has been completed.
Sugar suffers as India raises output estimateSugar prices endured another pounding on Tuesday after estimates for Indias production this season were revised higher.
Farmer fury at Greencore malting unit saleGREENCORE shareholders have voted to sell the company's malt business, enraging barley farmers and effectively ending the former state-owned company's manufacturing links with Ireland.
Sugar battles start with bid for Tully millTully Sugar has moved to stymie Maryborough Sugar's hostile takeover by revealing plans to list on the Australian Securities Exchange and buy the North Queensland milling assets of Bundaberg Sugar, signalling the start of a long-awaited industry consolidation.
Zimbabwe: Starafrica Gets Nod to Raise U.S.$10 MillionHarare STARAFRICA Corporation shareholders have agreed to raise US$10 million through a rights offer to refurbish and capitalise its sugar refineries and an additional US$10 million through private placement of convertible debentures to restructure the group's debt.
Zimbabwe: Full-Scale Ethanol Production On the CardsHarare Government has set up a team of experts to finalise modalities on full-scale commercial blending of petrol and ethanol produced from sugarcane at Triangle in Chiredzi to ease petrol importation pressures on the fiscus.
French and Algerian firms to build sugar refineryPARIS (Reuters) - French sugar maker Cristal Union and Algerian food firm LaBelle signed a partnership to build a joint refinery in Algeria with an initial capacity of 350,000 tonnes of raw sugar per year, Cristal Union said on Monday.
Kenya scraps auction of sugar import rightsNAIROBI (Reuters) - Kenya has abolished the auction of sugar import licenses after the Common Market for Eastern and Southern Africa (COMESA) bloc said it hampered free trade, its sugar regulator said on Monday.
Egypt's SIIC buys 90,000 T raw Brazilian sugarCAIRO (Reuters) - Egypt's state-owned Sugar and Integrated Industries Company (SIIC) said on Monday it bought 90,000 tonnes of raw Brazilian sugar for arrival in August or September.
$600m Ethanol Plant Under ConstructionThe project using sugar cane grown in Chisumbanje and Middle Sabi as a feedstock, is a 10 year commitment for the companies, but according to a report in the Zimbabwe Herald is will eventually produce 80 pere cnet of the country's ethanol needs.
Sugar makes inroads against corn syrupThere's good news for Louisiana's sugar cane producers. The Wall Street Journal reports that some big-name food and beverage products, such as Hunt's ketchup, have begun dropping high fructose corn syrup in favor of higher-cost sugar because consumers prefer more natural products.
Deal to Save Everglades May Help Sugar FirmWhen Gov. Charlie Crist announced Floridas $1.75 billion plan to save the Everglades by buying out a major landowner, United States Sugar, he declared that the deal would be remembered as a public acquisition as monumental as the creation of the nations first national park, Yellowstone.
Saving the Everglades, or Saving US Sugar?The NYT reports that Floridas ambitious Everglades restoration plan, as actually implemented, may do more to help ag-giant US Sugar than to restore and protect the Everglades. Although heralded when first announced, Florida has had a hard time following through on the plan.
Crist camp: Rubio backed by U.S. Sugar competitorRepublican Gov. Charlie Crists Senate campaign responded to a jab from primary rival Marco Rubio, who called the Everglades land buy a bailout for U.S. Sugar: From Crist spokeswoman Amanda Henneberg:
NYTimes tees up Crists Everglades land deal with U.S. SugarThe New York Times weighed in this morning with a 4,300-word, front-page story on Gov. Charlie Crists Everglades restoration land deal. Not happy press for a deal that is, by all recent accounts, hanging by a thread and becoming increasingly unaffordable, given the submarine trajectory of the economy.
Sugar deal sparks call for oversightFlorida's Everglades deal with the sugar industry is sparking calls for legislation that would require approval before water management districts could make large land purchases.
Judge takes RR sugar beet arguments under advisementSugar beet growers still don't know whether they will be able to plant Roundup Ready beets this spring, as U.S. District Judge Jeffrey White simply took under advisement the plaintiffs' request for an immediate halt to the use of RR beets at Friday's hearing, in San Francisco (see FCN Feb. 1, Page 5).
Judge in California Could Halt Planting of Genetically Modified Sugar BeetsA case involving genetically modified (GM) food will be in front of a federal judge Friday in San Francisco.
Nutrition experts battle industry groups over sugarBefore you chug down another regular soda, or spoon sugar into your tea or coffee, consider this: There's a heated debate going on over the health risks of consuming too much sugar, high-fructose corn syrup and other caloric sweeteners.
Healthy Solution: Taxing SodasSeldom does one idea help fix two important problems, but a proposal to tax sugary soft drinks in New York State is just that sort of 2-for-1 solution. The penny-per-ounce tax on sodas and other sweetened drinks is a way to raise desperately needed money for the city and state in a bad economy. It also could help lower obesity rates, which have soared in recent years.
Ethanol Making Comeback as Valero Sees Profit Where Gates LostMarch 9 (Bloomberg) -- Ethanol, the commodity that cost Bill Gates more than $44 million the last time prices collapsed, is poised to rally as much as 20 percent as the fastest drop since 2008 spurs demand.
Guatemala to buy back sugar meant for exportGUATEMALA CITY, March 8 (Reuters) - Guatemalan sugar producers will buy back around 23,000 tonnes of sugar they had sold to exporters because of worries about supply shortages, the head of national sugar association ASAZGUA said on Monday.
Tully Sugar could buy more millsA consolidation of sugar mills could take shape, through Tully Sugar purchasing Bundaberg Sugar's northern assets.
Tully Sugar eyes takeoverAnother sugar milling takeover has been proposed in far north Queensland.
Tully Sugar plans IPOTULLY Sugar to list on the stock exchange and to buy the assets of Bundaberg Sugar in far north Queensland, which will create a major new Australian sugar company in the key growing region.
Unbridled sugar crisis still haunting peopleTuesday, March 09, 2010 Our correspondent Rawalpindi Unbridled crisis of sugar is still haunting the residents of the city, as they have to face ever increasing prices of the commodity in open market on daily basis and worst kind of humiliation at governments owned Utility Stores Corporation outlets when they try to get the commodity on subsidised rates. They not only have to stand for hours in queue in front of USC outlets, but also have to return empty handed most of the time due to non-availability of the stock.One kilogram of sugar is being sold at USC outlets for Rs45 and in open market it is available for Rs70-75. Difference of price of sugar in open market and USC outlets forces inflation-hit people to face humiliation every day in front of government stores. The city administration that was previously active to provide some relief to the poor by selling sugar through truck on subsidised rate has abandoned the practice expressing its inability to handle the situation. District Officer Revenue (DOR) Muhammad Arshad Warraich, when contacted told The News that they were providing sugar to public on subsidised rates on the directions of the Punjab government. But now they are helpless before the situation because sugar rate is fixed on daily basis in open market, he said. The USC outlets are only the source of some relief for the poor but many of them remain closed or do not observe their official timings to the much inconvenience for the people. Poor people start gathering in front of USC outlets from early morning in a hope to get sugar on subsidised rate. Many a time they have to wait for hours as many stores open late. The official times of the outlets is 9:00 a.m. to 5:00 p.m. but many outlets open at 11:00 a.m and some even at 1:00 p.m., letting the poor customers to wait for hours helplessly. When The News contacted Senior General Manager Utility Stores Corporation Masood Niazi he said that he would take action against concerned staff of the stores that were not observing timings. He said he has transferred a manager of USC outlet at Tipu Road for not observing timings. All Pakistan Sugar Mill Association General Secretary Qazalbash Khan said that they are facing shortage of sugar. They are buying sugarcane at Rs230 per mound, against the governments promise of providing sugarcane on subsidised rates at Rs100. The reliable sources from Trading Corporation of Pakistan (TCP) said that department is not in a position to import sugar from other countries due to poor financial conditions. They informed that TCP is facing loss of Rs6 billion and due to the reason they are not in a position to import the commodity. All Pakistan Sugar Wholesale Dealers Association Haji Fazal Ahmed said that sugar crisis would further worsen in future. The price of sugar is being increased by sugar mills and due to the reason customers are getting the commodity on higher rates, he said. People complained that no one is taking action against the high prices of sugar in the open market and indifference on the part of the USC outlets staff. They said they regularly visit USC outlets but fail to buy the commodity due various reasons. They appealed to the Chief Justice of Pakistan and the Punjab Chief Minister to take action for the availability of sugar on low prices in the open market. Nadia Khan, a customer at a USC outlet, said since the arrival of the PPP government they have been facing difficulties in buying sugar. She said the opposition is also unmoved against the situation. Mumtaz Begum, another customer, said that she has been standing in queue since morning to buy sugar but now returning home without any sugar as staff told her that the store has run out of the stock. caption RAWALPINDI: People standing in a queue in front of USC outlet to buy sugar. Khalid Raja
Sugar production from sugar beet: Industry seeks ST exemptionISLAMABAD: The sugar industry has sought exemption from sales tax on sugar produced from sugar beet to overcome the declining trend in the sugar production from sugarcane, sources told Daily Times here on Monday.
Maharashtra sugar traders to resume lifting of mill stocksThe sale of sugar in Maharashtra has been at a standstill for a week, due to a withdrawal by traders. However, a meeting today between representatives of sugar factories and traders ended in hopes that the matter had been resolved, at least for now.
