Sugar craving a headache

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Vietnam may resume sugar imports to keep local firms sweet. Tran Thi Mieng, an official from the Ministry of Agriculture and Rural Development (MARD), said: “MARD should ask the Ministry of Industry and Trade to allowing the resumption of sugar imports in August to satisfy domestic demand and avoid speculation.” She said that prices in…


Sugar revival catches many speculators off guard

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Sugar revival catches many speculators off guard The strong rebound in sugar futures – which continued on Monday, helped by data showing a doubling in Chinese imports – wrong-footed many speculators, who sold off heavily before the revival gained traction. Managed money, taken as a proxy for speculators, cut their net long position in New…


Sugar imports will help cut prices

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HA NOI — The Department of Processing and Trade for Agro-Forestry-Fisheries Products and Salt Production under the Ministry of Agriculture and Rural Development has asked the Ministry of Industry and Trade to resume sugar imports in order to avoid rising prices in October and November this year. "Up to the middle of July, domestic manufacturers…


Sugar boss mars last results with profits warning

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Maryborough Sugar Factory’s outgoing chief executive, Mike Barry, marred his last results release with a profits warning, cautioning that Cyclone Yasi had not been the end of the group’s weather setbacks. Mr Barry, who is to quit the group at the end of November after three years in charge, said a "very challenging" season had…


Vietnam exports sugar despite low stock

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Vietnam exported the largest amount of sugar to China this year even though local supply of the sweetener is running low, officials said. Around 100,000 tons of sugar has been sold to China recently, the highest level ever, Deputy Minister of Agriculture and Rural Development Bui Ba Bong told a meeting in Ho Chi Minh…


Cane growers get some sweet news

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HCM CITY — Sugar production soared by 29 per cent to 1.15 million tonnes this sugarcane season, the Department of Agriculture, Forestry and Fishery Products Processing and Salt Industry said. Its deputy director, Doan Xuan Hoa, told a review meeting held in HCM City last Friday that the country had 271,400ha under sugarcane now, an…


EGoM on food scheduled to meet on Aug 12 to take decision on sugar, wheat exports

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NEW DELHI: An Empowered Group of Ministers (EGoM) on food will be meeting on August 12 for taking decision on allowing more sugar exports and also lifting restriction on wheat exports. The EGoM is headed by Union Finance Minister Mr Pranab Mukherjee. So far this year, Centre has permitted exports of 1-million tonnes of sugar…


Vietnam exports 100,000 tonnes of sugar to China

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For the first time, Vietnam exported 100,000 tonnes of sugar to China, said Deputy Minister of Agriculture and Rural Development (MARD) Bui Ba Bong at a meeting in Ho Chi Minh City on July 15 to review sugarcane production in 2010-2011. The country also imported 98,000 tonnes of sugar from China, 51,000 tonnes less than…


Sugar prices are on the up

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Over the last couple of months “two commodities stood out from the pack”, says research group Capital Economics. Wheat has been a poor performer, down by a fifth since the start of June, as “prices were undermined by the ending of Russia’s export ban”. Yet wheat remains historically expensive and, with Russian supplies set to…


Agriculture official: 150,000 tons of sugar needed immediately

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“We need to import sugar right now, or it will be too late,” claimed Doan Xuan Hoa, Deputy Director of the Department of Agriculture, Forestry and Fishery Products Processing and Salt Industry under MARD, in an interview with Nong Nghiep Vietnam newspaper. The world sugar price has unexpectedly soared after decreasing significantly in February and…


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