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Zambia Sugar Plc has exported over 20,000 tons of sugar to the European Union (EU) out of the expected 30,000 tons for the period April to December 2007, The Post reported Monday.

Corporate affairs manager Lovemore Sievu was quoted by the local newspaper as saying that the company has done well in exports to the EU this year, with hopes of further developing the export market in the short time.

“We have exported over 20,000 of sugar to the EU,” he said in Mazabuka, sugar producing area of the country.

“Most of the sugar being exported went under the fair trade arrangement and this has been on for about a year now,” Sievu said.

Zambia Sugar is in the next few years expected to increase its exports to the EU once its 840 billion kwacha (about 210 million U. S. dollars) expansion project is completed in two years.

The project launched last month is expected to increase the firm’s annual production from the current 246,000 tons to 440,000 tons by 2010, making the largest African producer of sugar after Sudan.

Zambia Sugar is the biggest sugar producing firm in Zambia and earns the country over 30 million U.S. dollars a year in foreign exchange, the biggest non-traditional foreign exchange earner for the country.

Meanwhile, Zambia is expected to produce 280, 000 tons of sugar this year compared to 260,000 tons, Times of Zambia reported Friday.

It quoted Zambia Sugar cooperate affairs manager Lovemore Dievu as saying here Thursday that the company so far has produced more than 212,000 tons out of the expected 255,000 tons during the 2007- 2008 season.

He said Zambia Sugar has crashed and transported 1.6 million tons of cane. The company has an excess of 71,000 tons of sugar in stock, he said.

He contributed the increase to the marginal expansion and de- bottling that is going on at the plantation.

Source: Trading Markets 

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The factors boosting commodity prices such as copper, uranium, gold, cobalt, sugar, etc. are likely to continue, keeping those prices up …

The good times are here to stay in the short to medium term. Sugar is in high demand in the European Union and Nakambala can reap high returns from this. 

The price of gold, South Africa’s biggest export, has surged 16 percent this year, helping to underpin the currency for instance.  Copper has climbed 25 percent, benefiting Zambia, Africa’s biggest producer of the metal.

Overall, Sub-Saharan Africa is benefiting from rising prices of gold, oil and copper, helping the region’s economy expand an estimated 6.8 percent this year, from 5.5 percent last year. The challenge now is for countries like Zambia that are dependent on commodity exports to properly “manage” the commodity boom.

If we respect the truth, then we need to admit that commodity boom phases have not been managed well in the past, and we are at risk of making the same mistakes again. The main factors underpinning commodity prices were strong demand for platinum in devices that cut pollution in cars and rising demand in China and other emerging markets.

Still, commodity prices might drop, hurting growth in some African countries. To assume that current prices and the current boom phase reflects a permanent shift, rather than a temporary opportunity, would be a naive and risky approach to adopt. 

If our analysis is correct, then the slump will come and it will bring with it a significant decline in commodity prices but prudent asset management now would help governments that are diversified enough to transition into manufacturing, construction and service sectors.

 

 

 

However, with norminal GDP rising from $3.24 billion in 2000 to well over $10.71 billion in 2006; per capita GDP income thriving from $303.00  in 2000 to $902.00 in 2006; inflation falling from 26.1% in 2000 to just 9.2% for fiscal year 2006; tourism at its highest peak and a combination of other factors … the Zambian Enterprise is headed for some good times, that’s the memo this week from us at the Zambian Chronicle … thanks a trillion

 

Brainwave R Mumba, Sr.

CEO & President – Zambian Chronicle  

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$200m sugarcane project launched
By ANGELA CHISHIMBA
 

PRESIDENT Mwanawasa yesterday launched the Nakambala sugarcane expansion project estimated to cost US$200 million. President Mwanawasa said the expansion project had put Zambia in the league of the major sugar producers in the world.

“It is good that Zambia will not only be known by its production of copper but sugar as well,” he said.

The project would expand the country’s sugar exports mainly to the European Union.

He said the project would ensure increased income and creation of more jobs.

The President said the production of ethanol by Zambia Sugar would also help reduce the import bill for petroleum.

He was confident that most of the US$200 million to be pumped into the expansion programme would come from Zambian banks, which would in turn derive profits out of it.

Mr Mwanawasa urged Zambians to position themselves and ensure they benefited from the project.

He appealed to the Zambia Sugar management to continue supporting indigenous Zambians in order to support the Citizens Economic Empowerment Act.

He urged management to assist local people to take advantage of business opportunities that may arise following the launch of the expansion programme.

He was glad that Zambia Sugar Company decided to invest in Zambia at a time when most investors feared to invest in the country.

He said Zambia was an investor-friendly country.

He paid tribute to traditional leaders in Southern Province for releasing land to put up the Albidon Nickel Mining and Zambia Sugar expansion projects.

Mr Mwanawasa also urged investors to pay attention to concerns of local communities.

“Investors should ensure that they take the owners of the land on board,” he said.

President Mwanawasa also held a meeting with the company to discuss labour matters.

He could not, however, disclose what had been discussed.

And Zambia Sugar managing director, Paul de Robillard, said the sugarcane expansion project was approved at a cost of K840 billion on March 28, 2007.

The project is based on a 50 per cent increase in cane crushing capacity of the factory, linked to expanded sugar cane growing and the construction of new canals to deliver irrigation water to new areas of sugarcane development.

The project will also result in Zambia Sugar becoming fully self-sufficient in its own electricity requirements.

Mr de Robillard said the anticipated growth in production would come from a combination of Zambia Sugar’s own estate operations, commercial out-growers and small-scale grower schemes, both new and existing, totalling 10,500 hectares.

He said the first phase of the expansion had started and would be completed in time for the sugar season in April 2008.

Mr de Robillard said as an alternative market, the unrestricted European market access entitlements for least-developed countries (LDCs), including Zambia, to be effected in 2009, would provide a minimum underpin price for the increased production.Under the EU reformed sugar regime, the price for bulk raw sugar would be guaranteed at a level that is 33 per cent lower than the existing price.

Mr de Robillard said the unrestricted nature of this initiative for sugar exporters in LDCs would also enable Zambia access the full value chain existing in the EU sugar market.

This would open opportunities to earn commercial premiums currently not available to exporters due to the EU’s restricted quota system.

He said molasses production would increase to 95,000 tons by the end of the project and at that stage, a feasibility study to investigate the production of alcohol for national fuel pool would be undertaken.

“It is envisaged that if viable, an ethanol plant would be able to supply approximately 10 per cent of the country’s fuel requirements,” he said.

Source: Zambia Daily Mail