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Business Finance Assignment Report on Sugar Industry

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Business Finance Assignment Report on Sugar Industry Business finance Assignment Report on Sugar industry. Presented to: Respected Sir Riaz. Presented by: Goup#07 Members are: Roll # Qamar sultan MBS-09-06 Adil Ameen MBS-09-18 Umaira MBS-09-37 Syed Raza Imam MBS-09-48 Huma Zahra MBS-09-56 Fida Hussain MBS-09-63 Irfan Kiayni MBS-09-59 History behind sugar cane: It would thus clear that India is the birth place of the manufacturing of sugar from sugarcane. The history of modern sugar industries in India may be said to begin from 1932. Five factories, however, were started in 1932-1935 but excepting one, at Rahwali, all other enterprises failed due to their uneconomic size. Inadequate sugar cane supplies and inefficient management. At the time of partition we had the only factory at Rahwali in the Punjab. Hence we had to start with a scratch. Punjab is the second largest sugar cane growing province in Indo-Pakistan subcontinent. Now update position of sugar industries in Pakistan is 38 sugar factories in Punjab and 31 in Sindh and 6 in NWFP and Pakistan is now exporting sugar to other countries. It was the major expansion of the Arab peoples in the seventh century AD that led to a breaking of the secret. When they invaded Persia in 642 AD they found sugar cane being grown and learnt how sugar was made. As their expansion continued they established sugar production in other lands that they conquered including North Africa and Spain. Sugar was only discovered by western Europeans as a result of the Crusades in the 11th Century AD. Crusaders returning home talked of this "new spice" and how pleasant it was. The first sugar was recorded in England in 1099. The subsequent centuries saw a major expansion of western European trade with the East, including the importation of sugar. It is recorded, for instance, that sugar was available in London at "two shillings a pound" in 1319 AD. This equates to about US$100 per kilo at today's prices so it was very much a luxury. In the 15th century AD, European sugar was refined in Venice, confirmation that even then when quantities were small, it was difficult to transport sugar as a food grade product. In the same century, Columbus sailed to the Americas, the "New World". It is recorded that in 1493 he took sugar cane plants to grow in the Caribbean. The climate there was so advantageous for the growth of the cane that an industry was quickly established. By 1750 there were 120 sugar refineries operating in Britain. Their combined output was only 30,000 tons per annum. At this stage sugar was still a luxury and vast profits were made to the extent that sugar was called "white gold". Governments recognized the vast profits to be made from sugar and taxed it highly. In Britain for instance, sugar tax in 1781 totaled £326,000, a figure that had grown by 1815 to £3,000,000. This situation was to stay until 1874 when the British government, under Prime Minister Gladstone, abolished the tax and brought sugar prices within the means of the ordinary citizen. Sugar beet was first identified as a source of sugar in 1747. No doubt the vested interests in the cane sugar plantations made sure that it stayed as no more than a curiosity, a situation that prevailed until the Napoleonic wars at the start of the 19th century when Britain blockaded sugar imports to continental Europe. By 1880 sugar beet had replaced sugar cane as the main source of sugar on continental Europe. Those same vested interests probably delayed the introduction of beet sugar to England until the First World War when Britain's sugar imports were threatened. Today's modern sugar industry is still beset with government interference at many levels and throughout the world. The overall pattern can be seen by investigating the mid 1990s' position in the interactive map on the Introduction page. Annual consumption is now running at about 120 million tons and is expanding at a rate of about 2 million tons per annum. The European Union, Brazil and India are the top three producers and together account for some 40% of the annual production. However most sugar is consumed within the country of production and only approximately 25% is traded internationally. One of the most important examples of governmental actions is within the European Union where sugar prices are so heavily subsidized that over 5 million tons of white beet sugar have to be exported annually and yet a million tons of raw cane sugar are imported from former colonies. This latter activity is a form of overseas aid which is also practiced by the USA. The EU's over-production and subsequent dumping has now been subjected to GATT requirements which should see a substantial cut-back in production over the next few years. How Cane Sugar is Made: 1. Growing the Cane Sugar cane is a sub-tropical and tropical crop that prefers lots of sun and lots of water - provided that its roots are not waterlogged. It typically takes about 12 months to reach maturity although the time varies widely around the world from as short as six months in Louisiana to 24 months in some places. Where it differs from many crops is that it re-grows from the roots so the plant lasts many cycles [or 'ratoons', a word derived from the Spanish to sprout] before it is worn out. 2. Harvesting Sugar cane is harvested by chopping down the stems but leaving the roots so that it re-grows in time for the next crop. Harvest times tend to be during the dry season and the length of the harvest ranges from as little as 2 ½ months up to 11 months. The cane is taken to the factory: often by truck or rail wagon but sometimes on a cart pulled by a bullock or a donkey! 3. Extraction The first stage of processing is the extraction of the cane juice. In many factories the cane is crushed in a series of large roller mills: similar to a mangle [wringer] which was used to squeeze the water out of clean washing a century ago. The sweet juice comes gushing out and the cane fiber is carried away for use in the boilers. In other factories a diffuser is used as is described for beet sugar manufacture. Either way the juice is pretty dirty: the soil from the fields, some small fibers and the green extracts from the plant are all mixed in with the sugar. 4. Evaporation The factory can clean up the juice quite easily with slaked lime (a relative of chalk) which settles out a lot of the dirt so that it can be sent back to the fields. Once this is done, the juice is thickened up into a syrup by boiling off the water using steam in a process called evaporation. Sometimes the syrup is cleaned up again but more often it just goes on to the crystal-making step without any more cleaning. The evaporation is undertaken in order to improve the energy efficiency of the factory. 5. Boiling The syrup is placed into a very large pan for boiling, the last stage. In the pan even more water is boiled off until conditions are right for sugar crystals to grow. You may have done something like this at school but probably not with sugar because it is difficult to get the crystals to grow well. In the factory the workers usually have to throw in some sugar dust to initiate crystal formation. Once the crystals have grown the resulting mixture of crystals and mother liquor is spun in centrifuges to separate the two, rather like washing is spin dried. The crystals are then given a final dry with hot air before being stored ready for dispatch. 6. Storage The final raw sugar forms a sticky brown mountain in the store and looks rather like the soft brown sugar found in domestic kitchens. It could be used like that but usually it gets dirty in storage and has a distinctive taste which most people don't want. That is why it is refined when it gets to the country where it will be used. Additionally, because one cannot get all the sugar out of the juice, there is a sweet by-product made: molasses. This is usually turned into a cattle food or is sent to a distillery where alcohol is made. 7. Power So what happened to all that fiber from crushing the sugar cane? It is called "bagasse" in the industry. The factory needs electricity and steam to run, both of which are generated using this fiber. The bagasse is burnt in large furnaces where a lot of heat is given out which can be used in turn to boil water and make high pressure steam. The steam is then used to drive a turbine in order to make electricity and create low pressure steam for the sugar making process. This is the same process that makes most of our electricity but there are several important differences. When a large power station produces electricity it burns a fossil fuel [once used, a fuel that cannot be replaced] which contaminates the atmosphere and the station has to dump a lot of low grade heat. All this contributes to global warming. In the cane sugar factory the bagasse fuel is renewable and the gases it produces, essentially CO2, are more than used up by the new cane growing.
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