(Reuters) – The chief of Bunge Ltd. said on Sunday the Brazilian sugar and ethanol industry was at a turing point but although better times were ahead and expansion set to take place, they may come later than the market needs.
Speaking at the Dubai Sugar Conference, Soren Schroder said at a panel Brazil was the only country of origin with the potential to fill the demand gap in sugar.
“We can argue that it is the uncertainity of the last 7-8 years that will make it very difficult to get that expansion,” he said.
“The industry is very fragile…it needs a period of stability to meet that expansion.”
Schroder said in order to balance global demand, Brazil needed to increase crushing by over 200 million tonnes by 2025. (Reporting By Maha El Dahan and Rania El Gamal; Editing by Nick Macfie)
In the lead-up to the world-famous Oktoberfest – which celebrates Bavarian tradition, beer and the festival spirit – Munich was already buzzing with activity by the time the doors opened to Drinktec 2022 on 12-16 September. The atmosphere was lively, with approximately 50,000 visitors from 169 countries in attendance.
Unilever has announced CEO Alan Jope’s decision to retire from the company at the end of 2023, after five years at the helm. The announcement comes less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.
Lakeland Dairies has announced that Colin Kelly will assume the role of group CEO following the retirement of Michael Hanley at the end of the year. Kelly will take up the position in January 2023, while Hanley will step down in December this year.
