Bunge files to list Brazilian sugar and ethanol business

USA - The global agribusiness and food company has filed a registration for a potential public offering of its sugar and ethanol business, Bunge Açúcar & Bionergia with the Brazilian Securities Commission. With the listing which is subject to market conditions and valuations, Bunge plans to operate the business as a stand-alone entity after obtaining…

Nestle launches global initiative to enhance healthy living in children

SWITZERLAND - Nestle SA has launched a global initiative 'Nestlé for Healthier Kids’ that will see it develop healthier and nutritious products with an aim to help 50 million children lead healthier lives by 2030. The engagement also includes advising families on nutrition and health while accelerating Nestle’s transformation of its food and beverage portfolio worldwide.…

Britannia embarks on global sourcing to cut costs with profits 25% higher

INDIA - The Indian biscuit maker and food products corporation has reported a 25% increase in net profit in the fourth quarter ended March 31, boosted by high demand met through a wide distribution reach across its market. Following a reformed tax environment that recognizes a uniform producer levy, Britannia said it was consolidating its…

US sugar production down 2.9% from a record high the previous year

USA - US sugar production for 2018-19 is forecast at 8,981,000 short tons, raw value, 2.9% down from record high 9,252,000 tons forecast for 2017-18, according to USDA’s May 10 World Agricultural Supply and Demand Estimates. For the next year, cane sugar production was forecast at 3,945,000 tons, down 2.1% while beet sugar production was…

Dangote Sugar revenue declines 30.9% on lower prices in the first quarter

NIGERIA - Dangote Sugar Refineries has reported margin expansion amidst slowed sales impacting on revenue, which declined 30.9% to US$113.84 million due to lower prices in the first quarter. The Vanguard reported that although the company recorded 10.9% increase in after tax earnings to US$14.68 million, these were way too below the estimates by analysts…

Tanzania to build more sugar factories and grow more cane to meet demand

TANZANIA - Tanzania is planning to grow more cane and build cane milling factories, calling on both local and foreign investors to develop this industry even as demand for sugar in this country is seen on the rise. Kilombero Sugar Company, majority owned by South Africa's Illovo Sugar and one of the largest sugar producers…

Study shows no effect of low-calorie sweeteners on appetite

BELGIUM - New study by the International Sweeteners Association (ISA) has shown that the use of low-calorie sweeteners in beverages or food does not increase or suppress one’s appetite. According to the research, use of low-calorie sweeteners by consumers can help reduce overall energy and sugar intake, and thus be helpful tools in calorie control…

Kenya’s sugar imports fall 54% after end of duty-free period

KENYA - Kenya’s sugar imports have fallen 54% to 49,445 tonnes in the in the first quarter of the year after the period announced by the government for duty-free sugar imports elapsed. In March alone, volumes went down to 9,907 tonnes from 33,623 tonnes and while table sugar imports totalled 1,815 tonnes, refined white sugar…

Sugar processor Tongaat Hulett to report 15% drop in profits

SOUTH AFRICA - Tongaat Hulett, the agricultural and agri-processing business has said that it expects operating profit to fall by at least 15% for the full year compared to year ended March 31, 2017 reports Business Day. According to the company, the decline was a result of higher than expected sugar imports in South Africa.…

Nigeria to adopt standards on sugar and allied products

NIGERIA - The Standards Organisation of Nigeria (SON) is considering adopting African and developing new standards on sugar and sugar products such as glucose and sucrose to improve intra-African trade as well as promote harmonisation of standards across the continent. The standards will be considered for cane sugar, brown sugar, white sugar, glucose and sucrose,…