Agrana to expand Pischelsdorf plant. Agrana will invest €92mm in the production capacity of its wheat starch factory in Pischelsdorf.
World sugar market. Volatility returns to the global sugar market. The front month raw sugar price in New York (NY) fell to a new low of 12.55cents/lb. on June 28, reflecting a 47.49% drop from the four-year high in October 2016.
Broader EU sugar beet area. In the first year after the end of the quota regime, the beet area has increased substantially by 232,000 ha (or 16.2%) to 1.66 mn ha.
EU increases Brazilian sugar imports. The European Commission has increased by 78,000t the quota of sugar that the EU can import from Brazil at lower tariff.
CoProB sees bright future. Italy’s CoProB Group has registered consolidated revenues of €233mn in 2016. The group’s net profit more than doubled from €1.2mn to €2.8mn.
Higher sugar prices help Tereos. Tereos reported revenues of €4,81bn, up 14.7% from €4,20bn in FY2015/2016. The Group’s adjusted EBITDA rose by 38% to €607mn, up €168mn (or 38%) from €440mn in 2015/2016.
Cristal Union reports higher profits. Cristal Union reported revenues of €2.48bn for the 16 months going from 30 Sep 2015 to 31 Jan 2017. During this period, EBIDTA was €293mn (up from €124mn in FY 2014/15, 12 months).