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Mumias Sugar huge demand
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Cde Monomotapa
#311 Posted : Tuesday, January 14, 2014 11:43:58 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
mwekez@ji wrote:
Sugar industry stakeholders to hold discussion tomorrow on key issuesKenya

Sugar industry stakeholders will tomorrow hold a meeting to discuss the expiry of the COMESA sugar import safeguards and subdued local sugar prices, among other industry issues. The import safeguards limit sugar imports from COMESA countries to 350,000 tonnes each year and are due to expire in March 2014. The expiry is expected to lead to an increase in cheaper sugar imports from COMESA countries that will undercut local sugar millers. The Government of Kenya aims to apply for a further extension of the COMESA import safeguard to give it more time to privatize 4 state-owned sugar millers to enable them compete more effectively with cheaper imports. Sugar industry stakeholders will also discuss declining prices of local sugar which have fallen 54.1% y/y to KES 3,600 per 50kg bag currently as a result of illegal sugar imports beyond the safeguard limit. (Source; Daily Nation, Kestrel Research)


Hoho...this should be interesting. Thanks. smile
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Aguytrying
#312 Posted : Tuesday, January 14, 2014 2:08:53 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Cde Monomotapa wrote:
mwekez@ji wrote:
Sugar industry stakeholders to hold discussion tomorrow on key issuesKenya

Sugar industry stakeholders will tomorrow hold a meeting to discuss the expiry of the COMESA sugar import safeguards and subdued local sugar prices, among other industry issues. The import safeguards limit sugar imports from COMESA countries to 350,000 tonnes each year and are due to expire in March 2014. The expiry is expected to lead to an increase in cheaper sugar imports from COMESA countries that will undercut local sugar millers. The Government of Kenya aims to apply for a further extension of the COMESA import safeguard to give it more time to privatize 4 state-owned sugar millers to enable them compete more effectively with cheaper imports. Sugar industry stakeholders will also discuss declining prices of local sugar which have fallen 54.1% y/y to KES 3,600 per 50kg bag currently as a result of illegal sugar imports beyond the safeguard limit. (Source; Daily Nation, Kestrel Research)


Hoho...this should be interesting. Thanks. smile


chants #save the sugar industry#
The investor's chief problem - and even his worst enemy - is likely to be himself
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Cde Monomotapa
#313 Posted : Thursday, January 16, 2014 9:34:40 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Aaand action! Mumias eyes cost-cutting to reverse Sh1.6bn loss

Mumias recently reduced the price at which it is buying cane from Sh3,825 per tonne to Sh3,385. Its rivals have also reduced their prices by between 11.5 per cent and 27 per cent in what is seen as signal of increased cane supply.

http://www.businessdaily...92/-/sepps/-/index.html
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streetwise
#314 Posted : Thursday, January 16, 2014 10:04:28 AM
Rank: Veteran

Joined: 6/23/2011
Posts: 1,740
Location: Nairobi
One day ..the story of Mumias may may become sugary..who remembers Mumias at ksh.64.00
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Aguytrying
#315 Posted : Thursday, January 16, 2014 10:34:11 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Cde Monomotapa wrote:
Aaand action! Mumias eyes cost-cutting to reverse Sh1.6bn loss

Mumias recently reduced the price at which it is buying cane from Sh3,825 per tonne to Sh3,385. Its rivals have also reduced their prices by between 11.5 per cent and 27 per cent in what is seen as signal of increased cane supply.

http://www.businessdaily...92/-/sepps/-/index.html


Bruv, are you in this bus or cheering from the sidelines.
If I get enough time I can get into 100,000 shares n above shareholders list.

half year results either this end month or the feb end month
The investor's chief problem - and even his worst enemy - is likely to be himself
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  | | Edit by user: Thursday, January 16, 2014 10:38 AM | Reason: Not specified
stockshunter
#316 Posted : Thursday, January 16, 2014 11:09:19 AM
Rank: Member

Joined: 1/16/2014
Posts: 114
am optimistic that the share will once return to it former glory, It would only take a statement from the government to see it rise from 3.20 to 5 if COMESA safe guards are extended or an elaborate plan is put in place to deal with the cheap sugar from COMESA members. The book values of 8.60 is too juicy form me, however the risk is equally high so am getting into the bus cautiously, slowly by slowly.
fear makes people live a miserable life.
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mypesa
#317 Posted : Thursday, January 16, 2014 12:11:13 PM
Rank: Member

Joined: 8/14/2007
Posts: 111
Headed to sub 3 ..
Mumias is no longer sweet
Even In The Most Severe Drought In The Jungle Lions Will Never Feed On Grass.
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poundfoolish
#318 Posted : Thursday, January 16, 2014 12:11:54 PM
Rank: Elder

Joined: 12/2/2009
Posts: 2,458
Location: Nairobi
Aguytrying wrote:
Cde Monomotapa wrote:
Aaand action! Mumias eyes cost-cutting to reverse Sh1.6bn loss

Mumias recently reduced the price at which it is buying cane from Sh3,825 per tonne to Sh3,385. Its rivals have also reduced their prices by between 11.5 per cent and 27 per cent in what is seen as signal of increased cane supply.

http://www.businessdaily...92/-/sepps/-/index.html


Bruv, are you in this bus or cheering from the sidelines.
If I get enough time I can get into 100,000 shares n above shareholders list.

half year results either this end month or the feb end month


I have my money on my mouth (or vise versa), and the stock is taking a beating ever since i bet on it.
but so are the others... HFCK and SCOM. :(
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Ericsson
#319 Posted : Thursday, January 16, 2014 12:13:59 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
Mumias should consider partnering with gava and build a sugar factory in the Galana-Kulalu irrigation scheme.
The government has said it intends to do value addition at the farm and this project may be a huge boost.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Cde Monomotapa
#320 Posted : Thursday, January 16, 2014 12:14:29 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
stockshunter wrote:
am optimistic that the share will once return to it former glory, It would only take a statement from the government to see it rise from 3.20 to 5 if COMESA safe guards are extended or an elaborate plan is put in place to deal with the cheap sugar from COMESA members. The book values of 8.60 is too juicy for me, however the risk is equally high so am getting into the bus cautiously, slowly by slowly.


^Cc. @Aguy

ION, a possible solution to cane poaching? Brazil approves Sh7bn loan for sugarcane farmer tractors http://www.businessdaily...2/-/f5x0exz/-/index.html
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