Food and drink firms target N201.7bn in sugar imports – New Telegraph

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As Dangote plans to cut sugar imports by 40% by 2024, Nigeria’s food and beverage sector will take delivery of 482,500 tonnes worth N201.7 billion (310.4 million dollars) between September and December 2022.

The imports are part of the 1.9 million tons ordered in 2022, with the price of the commodity rising from $443 in June to $532.5 per ton in August 2022. In the first week of September 2022, two vessels will arrive with the first batch of goods. of two ships loaded with 92,600 tons.

Shipping data from the Nigerian Ports Authority (NPA) revealed that Auarius Honor and Ocean Crown would be at Greenview Development Nigeria Limited (GDNL) to unload 45,850 tonnes and 46,750 tonnes respectively. Following strong demand from the food and beverage industry, GDNL took delivery of 187,000 tonnes from four vessels in May this year.

At the terminal, Common Galaxy arrived with 48,800 tons; Bonny Island, 47,200 tons; Chayanee Naree, 46,000 tons and Karteria Bluesrar, 45,000 tons. Additionally, in April, the terminal took delivery of 91,600 tonnes when Unity Bluestar unloaded 47,200 tonnes and Ecoatlantic unloaded 44,400 tonnes.

NPA shipping data also noted that 67,000 tonnes of sugar were offloaded to ENL Consortium and GDNL, noting that the ENL terminal took delivery of 20,000 tonnes from Doro, while Baltic Mantis unloaded 47,000 tonnes. at GDNL.

He added that Genco Picardie arrived with 46,500 tonnes in February, while two ships unloaded 101,422 tonnes in January, pointing out that Desert Calm docked with 55,352 tonnes and Pauline 46,070 tonnes. According to Index Mundi, a trade portal revealed that the country has already imported 965,000 metric tons of raw materials this year.

In addition, the country imported $1.82 billion worth of beet sugar, sugar syrups and other sugar confectionery over the past two years. Sugar is currently listed as a commodity on the Central Bank of Nigeria (CBN) Foreign Exchange Restricted List. In addition, Trade Data Monitor (TDM) statistics based on Brazilian foreign trade explained that Brazil’s exports increased from $458.9 million in 2019 to $702.8 million in 2020.

According to TDM, Brazil’s cumulative raw sugar exports to Nigeria in the 2020/21 season were 1.62 million tonnes, while domestic cane sugar production increased from 75,000 tonnes to 70,000 tonnes. , a drop of approximately 6.7% in one year. The country had planned to reach the target of 800,000 tonnes of raw sugar production by 2022 as demand from food and beverage manufacturing and retail markets is on the rise.

However, Nigeria was unable to meet the 5% target as data from the National Sugar Development Council (NSDC) revealed that in 2016, local production of refined sugar was 25,000 tonnes; 2017, 20,184 tons; 2018, 14,918 tonnes and 2019, 28,597 tonnes; 2020, 75,000 tons and 2021, 75,000 tons.

Meanwhile, Chairman/General Manager of Dangote Group, Aliko Dangote, said the integrated sugar complex to be located at Tunga, Awe Local Government Area in Nasarawa State, includes a cane plantation. sugar factory of 60,000 ha and two sugar factories with a production capacity of 430,000 tons. of refined white sugar per year, accounting for around 30 percent of the country’s consumption and is said to be Nigeria’s largest factory.

The sugar project would also provide 30,000 jobs for youth teaming up in Nasarawa State. Dangote said Phase II of the project, when expanded to 100,000 ha, would make the sugar mill the largest in Africa. Recall that the National Sugar Development Council (NSDC), has promised to revive the economy of Oyo State through its sugar refinery.

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