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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: zamboz who wrote (23328)	9/29/2007 2:59:23 PM
From: elmatador	Respond to of 219660

Tate & Lyle slumps 28% after third profit warning this year lost almost a third of its value yesterday after a third profit warning this year on the back of plunging sugar profits and the ... Why? Subsidies for sugar were cut, remember? Agriculture is the most distort sector of the world's economy. I think there's a lot of food that can be unleashed. If there's money in food people will plant. I'm counting with agriculture subsidies to significantly be scaled back in a matter of 5 years.

To: zamboz who wrote (23328)	9/29/2007 3:07:45 PM
From: elmatador	Read Replies (1) \| Respond to of 219660

Fate of Finnish sugar factory to be decided in spring Danisco plans suggest Säkylä plant might close The future of Finland's only sugar factory, located in Säkylä in the southwest of the country, will be determined in the spring. It is at that time that the Danish food manufacturer Danisco, which owns most of the Sucros plant, will determine how many Finnish farmers plan to continue growing sugar beets, and decide if maintaining the factory is a viable proposition. The future of sugar beet farming in Finland was put on the line when the agricultural ministers of the European Union member states decided on Wednesday to reduce sugar production in the EU countries. The decision of the ministers means that subsidies for growing sugar beet are to be cut, reducing profits for farmers. Farmers and the industry were also offered subsidies totalling about EUR 50 million in return for giving up sugar farming. Of this subsidy 90 per cent would go to Sucros, the company that runs the Säkylä factory. The rest would be shared by farmers who stop growing sugar beet, as well as machine contractors who would be affected. The Finnish food processing company Lännen Tehtaat owns 20 per cent of Sucros, and the rest is owned by Danisco. Danisco said last spring that it plans to place its sugar operations into a separate company, which it will sell off. Danisco deputy CEO Mogens Granborg says that this continues to be the company's goal. In this respect, the EU decision was good for Danisco. It clarifies the market, and eases the sale of the sugar business. Danisco said on Thursday that it was buying more sugar production quotas in Sweden and Denmark, in order to secure production at its "most efficient sugar factories". The Finnish Parliament vented rage on Thursday at the fact that the cutbacks ordered in sugar production were extended to Finland, even though Finland had abided by the previous decision for reductions in production - which a majority of EU countries did not do. Prime Minister Matti Vanhanen (Centre) predicted that the decision will affect Finnish attitudes toward the European Comission. He noted that the decision by the Council of Ministers on the sugar issue is certainly a defeat for Finland. He was also very critical at the preparatory work of the Commission. Vanhanen said that the future of sugar production in Finland is now in the hands of the producers. He urged sugar beet farmers not to apply for subsidies for shutting down production, and to continue to grow sugar their crop.