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Food, beverage firms target N201.7bn sugar imports

As Dangote plans to curb sugar import by 40 per cent by 2024, Nigerian food and drinks sector will take delivery of 482,500 tonnes valued at N201.7 billion ($310.4 million) between September and December, 2022.

The imports are part of the 1.9 million tonnes ordered in 2022 as price of the commodity jumped from $443 in June to $532.5 per tonne in August, 2022. In the first week of September 2022, two vessels will arrive with the first batch of the commodity from two vessels laden with 92,600 tonnes.

The Nigerian Ports Authority (NPA)’s shipping data revealed that Auarius Honor and Ocean Crown would be at Greenview Development Nigeria Limited (GDNL) to offload 45,850 tonnes and 46,750 tonnes  respectively. Following high demand by food and drinks sector, GDNL took delivery of 187,000 tonnes from four vessels in May this year.

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

 

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

It added that Genco Picardy arrived with 46,500 tonnes in February, while two vessels offloaded 101,422 tonnes in January, stressing that Desert Calm berthed with 55,352 tonnes and Pauline, 46,070 tonnes. Finding from Index Mundi, a trade portal revealed that the  country has already imported 965,000 metric tonnes of raw this year.

Also, the country imported $1.82 billion beet sugar, sugar syrups and other sugar confectionery in the last two years. Sugar is currently on the list of commodities on the foreign exchange restriction list of the Central Bank of Nigeria (CBN). Also, statistics from Trade Data Monitor (TDM) based on the Brazilian Foreign Trade explained that Brazil exports rose from $458.9 million in 2019 to $702.8 million in 2020.

According to TDM, Brazil’s cumulative raw sugar exports to Nigeria in 2020/21 season was 1.62 million tonnes, while domestic cane sugar production has slumped from 75,000  tonnes to 70,000 tonnes, about 6.7 per cent decline within one year. The country had projected to meet 800,000 tonnes target of raw sugar production by 2022 as demand by the food and drink manufacturing and retail markets is on the increase.

However, Nigeria could not meet up to five per cent target as data from National Sugar Development Council (NSDC) revealed that in 2016, local production of refined sugar was 25,000 tonnes; 2017, 20,184 tonnes; 2018, 14,918 tonnes and 2019, 28,597 tonnes; 2020, 75,000 tonnes and 2021, 75,000 tonnes.

 

Meanwhile, the President/ Chief Executive, Dangote Group, Aliko Dangote, has said that the integrated sugar complex to be located in Tunga,  Awe Local Government Area of Nasarawa State, comprises 60,000ha sugar plantation and two sugar factories with capacity to produce 430,000 tonnes of refined white sugar per annum, representing about 30 per cent of the country’s consumption and would be the largest plant in Nigeria.

 

The sugar project would also provide 30,000 jobs for teaming youths in Nasarawa State. Dangote said that the Phase II of the project, when extended to cover 100,000ha, would make the sugar plant, the largest in Africa. It would be recalled that the National Sugar Development Council (NSDC), has promised to boost the economy of Oyo State through its sugar factory

 

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