Indian Sugar Exports May Double in 2008 Amid Global Surplus, Minister Says

(Bloomberg) -- Sugar exports from India, the world's
second-largest producer, may double in 2008 because of a
domestic surplus, adding further pressure to prices that have
plunged 44 percent in the past year.

The country may export as much as 3 million tons next year,
Akhilesh Prasad Singh, India's minister of state for agriculture,
consumer affairs, food and public distribution said today.
Exports may be 1.5 million tons this year, he told reporters at
the 9th World Beet and Cane Growers Conference in Brisbane.


Read more at Bloomberg Emerging Markets News

Sugar Falls Most in a Week in New York on Swelling Surplus, India Exports

(Bloomberg) -- Sugar in New York fell the most in a
week as Brazil and India, the two largest sugarcane producers,
prepare to harvest record crops.

Brazil will collect 513.3 million tons of cane this year,
the government estimates. India may harvest 315.5 million tons,
according to the farm ministry. The global sugar surplus for the
year ending Sept. 30 may reach 9.2 million metric tons, the
London-based International Sugar Organization estimates.


Read more at Bloomberg Commodities News

Sugar in New York Falls for Fifth Session as Global Output Exceeds Demand

(Bloomberg) -- Sugar in New York fell for a fifth-
straight session, the longest slide since January, amid
speculation that a global surplus of the sweetener may be bigger
than previously forecast.

World sugar production may exceed demand by 10 million
metric tons as output rises in Brazil and India, Helmut Ahlfeld,
managing director of F.O. Licht in Ratzeburg, Germany, said in
an e-mail on June 1. The London-based International Sugar
Organization earlier predicted a surplus of 9.2 million tons in
the year through September.


Read more at Bloomberg Commodities News

Global sugar prices set for further falls - ISO

(Reuters) - Global sugar prices are likely to fall as strong Brazilian and Indian crops come on to the market, a senior economist with the London-based International Sugar Organization (ISO) said on Thursday.

Indian sugar harvest estimates were frequently being revised upwards, which would lead to the 2006/07 world sugar surplus swelling beyond the ISO's latest estimate of 9.1 million tonnes, the body's Sergey Gudoshnikov said.


Read more at Reuters Africa

Sugar Falls on Expectations Rising Supply From Brazil Will Widen Surplus

(Bloomberg) -- Sugar futures fell in New York on
expectations that rising output from Brazil and India, the
world's largest growers, will widen a global surplus.

Farms are increasing output on rising demand for ethanol,
an alternative fuel made from sugar in Brazil. The South American
country, the biggest exporter of sugar and ethanol made from
cane, will harvest a record 513.1 million metric tons of the
tropical plant this year, 13 percent more than last year, the
government said on May 10.


Read more at Bloomberg Commodities News

Share weakness surprising

It may seem anomalous to treat one of SA's biggest industrial groups as a break-up situation, but most of the talk after today's results presentation by sugar, land and aluminium group Tongaat-Hulett centred on how the group's separate parts would be valued by the market after the planned unbundling of 50%-owned Hulett Aluminium.

Read more at FIN24.co.za

Tongaat-Hulett profit up 51%

South African sugar and aluminium producer Tongaat-Hulett Group Ltd posted a 51% rise in headline earnings on Monday, in line with its own forecast, and said it expects profits to increase in the year ahead.

The firm, majority owned by mining group Anglo American plc, said headline earnings rose to R703m during the year to December 31 from R466m the previous year.

Read more at FIN24.co.za