Sugar-Getting Sweeter by the Day-12aug2k5
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(May not be useful for day-traders.)
Sugar-Getting Sweeter by the Day
Mexico's two powerful sugar growers' unions said Monday they had rejected a proposal put forward by Agriculture Minister Javier Usabiaga to resolve a dispute over a new bill that President Vicente Fox has said he will veto. The dispute intensified Monday when in the early hours of the day an estimated 6,000 cane growers from across Mexico's 15 sugar producing states blocked the entrances to the federal offices of the Ministry of Agriculture in Mexico City. The blockage of the ministry comes after growers staged local blockages beginning last Tuesday in the agricultural ministries in the 15 sugar states. Those local protests continued Monday, according to police and eyewitnesses in the state capitals. "The sugar cane growers are fed up with the lies and the intolerant attitude of the Minister (Usabiaga)," a spokesman for the National Sugar Cane Producers Union, known as CNC.
Pakistan may have bought first Indian sugar cargoReuters reports - Pakistan, which lifted a four-year ban on Indian sugar this month, may have bought about 20,000 tonnes of sugar from its neighbour in what traders believe are the first purchases from the South Asian supplier. "We have heard that some 20,000 tonnes of Indian sugar has probably been done. This is for immediate delivery," said one Karachi-based trader.
Fiji Sugar Reports $2.6 Million FY LossThe future of Fiji's money-losing government-owned sugar business lies in growing sugar cane for ethanol and electricity generation, its chairman said in announcing annual earnings Tuesday. Fiji Sugar Corp., which operates the island nation's four sugar mills, reported a $2.6 million net loss for the financial year ended May 31, compared to a $6.5 million loss for the fourteen months to May 31, 2004. During the year, the government converted $32 million in loans to equity, providing the company with a fresh equity injection of $31 million. With higher oil prices boosting energy costs, some cane could be used to produce ethanol, a biofuel that is blended with gasoline to reduce auto emissions and increase gas octane levels, said Ross McDonald, the chairman. Also, crushed cane from sugar production could be burned to produce power for the nation's electricity grid, he said.
(May not be useful for day-traders.)
Sugar-Getting Sweeter by the Day
Mexico's two powerful sugar growers' unions said Monday they had rejected a proposal put forward by Agriculture Minister Javier Usabiaga to resolve a dispute over a new bill that President Vicente Fox has said he will veto. The dispute intensified Monday when in the early hours of the day an estimated 6,000 cane growers from across Mexico's 15 sugar producing states blocked the entrances to the federal offices of the Ministry of Agriculture in Mexico City. The blockage of the ministry comes after growers staged local blockages beginning last Tuesday in the agricultural ministries in the 15 sugar states. Those local protests continued Monday, according to police and eyewitnesses in the state capitals. "The sugar cane growers are fed up with the lies and the intolerant attitude of the Minister (Usabiaga)," a spokesman for the National Sugar Cane Producers Union, known as CNC.
Pakistan may have bought first Indian sugar cargoReuters reports - Pakistan, which lifted a four-year ban on Indian sugar this month, may have bought about 20,000 tonnes of sugar from its neighbour in what traders believe are the first purchases from the South Asian supplier. "We have heard that some 20,000 tonnes of Indian sugar has probably been done. This is for immediate delivery," said one Karachi-based trader.
Fiji Sugar Reports $2.6 Million FY LossThe future of Fiji's money-losing government-owned sugar business lies in growing sugar cane for ethanol and electricity generation, its chairman said in announcing annual earnings Tuesday. Fiji Sugar Corp., which operates the island nation's four sugar mills, reported a $2.6 million net loss for the financial year ended May 31, compared to a $6.5 million loss for the fourteen months to May 31, 2004. During the year, the government converted $32 million in loans to equity, providing the company with a fresh equity injection of $31 million. With higher oil prices boosting energy costs, some cane could be used to produce ethanol, a biofuel that is blended with gasoline to reduce auto emissions and increase gas octane levels, said Ross McDonald, the chairman. Also, crushed cane from sugar production could be burned to produce power for the nation's electricity grid, he said.
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6:01 AM
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