World sugar market. Global sugar prices test ethanol parity levels. With an estimated ethanol parity level of 13–14 cents/lb, global sugar prices have taken another beating.
Sugar, starch, and fruit boost Agrana’s EBIT. Agrana reported 3.4% higher revenues of €2,561.3mn for the FY2016/17. The operating profit (EBIT) rose by 33.6%, to €172.4mn (prior year: €129.0mn).
Nordzucker benefits from recovery of sugar prices. Nordzucker’s revenues of €1,708mn for the FY2016/17 were 6% higher than in the previous year (€1,607mn). The operating result (EBIT) came to €131mn (previous year: €16mn) and net...
Südzucker reports higher profits in all segments. Südzucker reported 1.4% higher revenues of €6,476mn for FY2016/17. Group operating result rose considerably to €426mn from €241mn.
QSL and Wilmar sign agreement. Queensland Sugar Limited (QSL) and Wilmar have reached an on-supply agreement, putting an end to a bitter 3-year-old dispute.
Brasil okays GM sugarcane. The National Biosafety Technical Commission has greenlighted the commercial use of genetically-modified sugarcane developed by the Sugarcane Technology Center (Centro de Tecnologia Canavieira – CTC).
Raizen acquires two Tonon’s mills. The company presented a binding proposal of BRL823mn (€221.5mn) for the acquisition of the Santa Cândida and Paraíso mills.