Sugar Miscellany

The Agriculture Minister has said that Ethiopia will provide ~$175.4million of loans to investors in farming under an initiative to improve the production of cash crops such as sugar and coffee. The Government has said that by improving agriculture over the next few years they will be able to ward off the problems of famine and try and increase income from exports. They are aiming to double the country’s exports to 600,000 tonnes within the next seven years.

Italy

A 10% stake has been taken in the Italian sugar company Eridania Sadam SpA by two private equity funds; MeliorEquityFund I and WOPE Europe. This involvement was taken with the aim of increasing the productivity of the company and achieving a bourse listing by 2006.

Brazilian Alcohol Car Sales

According to ANFAVEA, the National Association of Automobile Manufacturers, a total of 6,979 ethanol fuelled vehicles were sold during September. Ethanol vehicle sales are up 19.5 % on the previous year and now represent 6.5% of total automobile production.

No.5 White Sugar Contract Differentials

The Freight Committee of the London Sugar Futures Market has adjusted the differentials in respect of various ports where deliveries are to be made against the No.5 White Sugar Contract. The full revised schedule appears below in US dollars per tonne. These will reduce the price that a deliverer receives when making a tender at a port where a differential applies.