Mackay cane farm sales continue at a steady pace: HTW rural

Mackay cane farm sales continue at a steady pace: HTW rural
Mackay cane farm sales continue at a steady pace: HTW rural

Mackay Sugar’s final tonnage for the 2018 crushing amounted to 4.67 million tonnes compared to 4.97 million tonnes in 2017, according to the latest Herron Todd White (HTW) rural report. 

The report suggests the Percentage of Recoverable Sugar (PRS) was 14.3 compared to 13.37 in 2017.

Dry conditions, through the growing season adversely impacted yield but assisted sugar content.

The price of sugar is low at US$0.29 compared to the most recent peak of US$0.49 in October 2016.

"As had been the case in recent years due to mill break downs, there is no stand over cane," said the HTW report. 

"Growers are now more confident in milling operations and are looking forward to a better crop in 2019.

"In addition to this, Mackay Sugar has received a non binding indicative proposal for recapitalisation from German-based sugar manufacturer Norzducker AG which could result in capital improvements to mills."

Cane farm sales continue at a steady pace, the HTW update noted.

Recent sales activity around the Kuttabul area north of Mackay has occurred due to well established local growers acquiring additional areas. Values remain stable.

Mackay cane farm sales continue at a steady pace: HTW rural

Blue Ribbon, a 487 acre cane farm at Cehlona recently sold for $2.65 million (pictured above).

Located eight mintues to Mackay being South of Mackay, the home comes with three bedrooms plus office, rumpus room, open plan living and kitchen.

Other features of the property include grey water dam, fertile sandy loam soils, and three bay shed.

Mackay cane farm sales continue at a steady pace: HTW rural

Another 345 acre dress circle cane farm in Septimus was sold for $1.7 million in October 2018 (pictured above).

Situated 12 minutes to Mirani, it comes with three separate farms for avocados, macadamias and R2E2 mangoes.

Other features include two three bedroom homes, old lowset cottage, and three bay steel shed. 

Tags: 
Mackay Rural Market

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