Sweetener Margins Forecasted to Drop

LONDONSweetener selling prices in the Americas for the 2010 calendar year will be below the level achieved in the 2009 calendar year, according to Tate & Lyles management statement released Jan. 28. After taking into account lower input costs, including net corn costs, overall sweetener margins in the 2010 calendar year within the Americas are expected to be somewhat below the 2009 calendar year.

Performance in third quarter 2009 was below expectations, before the impact of exchange translation, principally due to lower industrial sales volumes in Food & Industrial Ingredients, Americas. Sucralose, Food & Industrial Ingredients, Europe and Sugars each performed in line with expectations in the quarter.