2018/2019 Sugar Cane Crop Opens While World Sugar Prices Continue Declining

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The mills at the A.S.R./B.S.I. factory at Tower Hill cranked up this morning to give way to the 2018-2018 sugar cane crop. Production is expected to be in the range of one hundred and forty thousand metric tons for the export market where there is already a surplus of sugar. The millers last year invested more than twenty million dollars to mitigate the impact of the drop in prices. They want to increase production of Direction Consumption Sugar and enter new markets which are posing new challenges. Given the circumstances, there is nervousness among cane farmers who find themselves at a difficult juncture. News Five’s Hipolito Novelo reports.

Sugar prices set to increase as millers’ stocks decline

Brace yourself for tough times ahead as sugar prices are bound to shoot up given that the level of the stock continues to drop, creating inadequacy in the market. According to the Sugar Directorate, stocks have fallen from 16,000 tonnes to 14,000 in the last two weeks.

This comes even as the shelf price of the sweetener has stabilised with a two kilo retailing at 250 shillings from 270 shillings last month.

Sugar prices drop in February as production increases

Cheap, duty free sugar which had been held for investigation for mercury was released into the market for consumption, and coupled with increased competition from cheap sugar imports in the market, helped reduce the prices of sugar in February.

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