HAMBURG (Reuters) -Suedzucker, Europe's largest sugar producer, confirmed a jump of about 90% in third-quarter operating profit on Thursday as improved sugar markets boosted earnings. Suedzucker, whose operations range from pizza and processed foods to food ingredients and bioethanol, said its sugar business swung to a quarterly operating profit of about 10 million euros from a 28 million euro loss in the same period last year. "With a further deficit in the world sugar balance in the 2021/22 marketing year, the world market environment is expected to remain positive," Suedzucker said.
Tereos, the French sugar and ethanol group, has sealed an agreement with grain cooperative Axereal to sell its stake in their malt business and is consulting unions on a plan to close its sugar activities in Romania, it said in a document to investors. Tereos, the world's second largest sugar producer by volume, has undertaken a wide ranging review of its businesses after a top management reshuffle in late 2020. In September, Tereos announced it was to sell its minority stake in two starch joint ventures in China as part of the reorganisation.
A small river in the middle of coffee plantations, sugar cane fields and a forest provides energy to a hydroelectric power plant in Costa Rica that feeds hundreds of computers wired up to the cryptocurrency mining business. The plant was forced to reinvent itself after 30 years because the government stopped buying electricity during the pandemic due to surplus power supply in the Central American country, where the state has a monopoly on energy distribution. "We had to pause activity for nine months, and exactly one year ago I heard about Bitcoin, blockchain and digital mining," said Eduardo Kooper, president of the family business that owns the 60-hectare farm Data Center CR and the plant.