South Africa: Financial Troubles Spread for South Africa s Largest Sugar Processer

  |   Attaché Report (GAIN)   |   SF2022-0042

Link to report:

South Africa: Financial Troubles Spread for South Africa s Largest Sugar Processer

On October 28, 2022, Tongaat Hullet’s management announced that they opted to go into voluntary business rescue due to the company’s severe levels of financial distress. On Tuesday November 1, Tongaat Hullet missed the deadline to pay R401 million ($22.9 million) for cane delivered by 4,300 growers in September. The company, however, managed to pay 4,000 small-scale growers and are left with outstanding payment to commercial growers. Raw sugar production is expected to fall by 2 percent to 2 million metric tons (MT) in the 2022/23 market year (MY), due to a reduction in the quantity of cane delivered to mills, limited crushing capacity as a result of the closure of two sugar mills, and a decline in mill efficiencies.

Africa (Sub-Sahara), South Africa
Sugar

Database Source:

Related Reports

View More
Attaché Report (GAIN)

India: Coffee Annual

FAS Mumbai forecasts marketing year (MY) 2025/26 coffee production (Oct/Sep) at six million 60-kilogram bags. A dry spell during January and February, followed by strong winds and excessive pre-monsoon rains in March and May,
Attaché Report (GAIN)

Canada: Grain and Feed Annual

Production of wheat, corn, barley, and oats is forecast to increase two percent year-over-year to 62.7 million metric tons (MT) in MY 2025/26 and area planted to grains will increase 2.2 percent year-over-year to 27.5 million hectares, according to Statistics Canada’s planting intentions survey.
Attaché Report (GAIN)

Guatemala: Coffee Annual

Guatemala’s coffee production areas remain stable, with gradual increases in output as ongoing renovation efforts begin to show results.