(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)
Kellogg Europe has invested €140 million (US$168.5 million) in manufacturing capacity to meet the increasing demand for snack brand Pringles with a new production line in its Polish factory opening ahead of time.
The owner of Philadelphia cream cheese and Heinz Ketchup had predicted flat-to-positive organic net sales growth, but today it reported 2.5% organic growth for the quarter.
The deal will see OFI’s wholly-owned subsidiary, Olam Holdings, acquire the US spice group from private equity firm Kainos Capital and Olde Thompson’s management shareholders.
