Sucden
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 | This article only references primary sources. (June 2019) |
Native name | Sucres et Denrées Group |
|---|---|
| Company type | Private |
| Industry | Financial services |
| Founded | 1952 |
| Founder | Maurice Varsano and Jacques Roboh |
| Headquarters | , |
| Services | Commodity broker, Sugar, Ethanol, Cocoa, Coffee |
Number of employees | 5,000 |
| Website | www |
Sucden (Sucres et Denrées)[1] is a French-based commodity broker of soft commodities and other financial products headquartered in Paris. The firm started as a sugar broker and is now amongst the world leaders with a market share of around 15% in volume (as of 2016[update]), or 9.5 million tonnes.[citation needed] It has offices in a number of countries around the world, including London and Hong Kong.
History
[edit]The company was founded in Paris[2] in 1952[3] as Sucres et Denrées by Maurice Varsano[4] and Jacques Roboh, who had started as sugar sellers in Morocco after World War II.[5]
In the 2000s, the company expanded into Russia, and began dealing in softs such as cocoa, coffee, and ethanol.[5]
It acquired the New York City-based Coffee Americas in 2014 and the Amsterdam-based Nedcoffee in 2015.[5]
Criticism
[edit]Sucden has faced criticism for maintaining operations and strong business ties in Russia amid the war in Ukraine. The company owns over 250,000 hectares of arable land in Russia and produces sugar, wheat, barley, sunflower, peas, and corn. In the previous year, its net profit grew 2.7 times to 3.4 billion rubles, while revenue increased significantly to 13.6 billion rubles, raising concerns about its continued economic engagement in the country.[6]
Subsidiaries
[edit]Sucden Financial
[edit]| Company type | Subsidiary |
|---|---|
| Industry | Financial services |
| Founded | 1973 |
| Founder | Maurice Varsano |
| Headquarters | , |
Key people | Marc Bailey, Michael Overlander |
| Services | Brokerage firm Derivative (finance) Foreign exchange |
| Parent | Sucden |
| Website | www |
Sucden Financial is Sucden's London-based multi-asset execution, clearing and liquidity provider for FX, fixed income and commodity instruments. Sucden Financial's parent is Sucden, a company incorporated in France. The group's main activity is sugar trading,
Sucden Financial is a member of the world's major commodities exchanges, is one of only 9 Ring-Dealing members on the London Metal Exchange and is able to deal in virtually all commodity and financial futures and options contracts, as well as foreign exchange and fixed income.
Clients trade financial derivative contracts on agricultural commodities such as sugar, coffee, cocoa, cotton and grains and oil seeds, industrial commodities such as base metals, steel, iron ore and energy, precious metals to foreign exchange and other financial instruments.[7]
Other subsidiaries
[edit]- Sucden Côte d'Ivoire
- Sucden cocoa Nigeria
- Sucden Americas corp
- Coffee America (USA) corporation
- General Cocoa Company (genco)
- Sucden Mexico
- Sucden do Brasil
- Sucden Recife
- Sucden Argentina
- Sucden Chile
- Sucden Peru
- Sucden Asia
- Sucden China
- Sucden India pvt. ltd.
- Sucden Malaysia
- Sucden Thailand
- Sucden Philippines
- Nedcommodities India
- Sucden Coffee Indonesia (formerly known as NedCoffee Indonesia)
- NedCoffee Vietnam
- Sucden Paris
- Sucden Geneva
- Sucden Italia
- Sucden Russia
- Nedcoffee B.V.
- Sucden Financial limited
- Sucden Middle East
References
[edit]- ^ "Sugar Traders Brace for Wild Ride as Surplus Hangs on Weather". BloombergQuint. Retrieved 2021-04-08.
- ^ "Ivory Coast president's stepson defends cocoa export role". www.ft.com. Retrieved 2021-04-08.
- ^ "French sugar trader creates stir with handy quartet swoop". Splash247. 2016-10-18. Retrieved 2021-04-08.
- ^ Ecofin, Agence. "Sucres & Denrées Côte d'Ivoire bénéficiera d'une ligne de crédit de 100 millions $ de la BAD". Agence Ecofin (in French). Retrieved 2021-04-08.
- ^ a b c "About Us: History". Sucden. Retrieved 30 May 2018.
- ^ "Sucden". leave-russia.org. Retrieved 2024-12-17.
- ^ "Sucden Financial: International Derivatives and FX Broker". Retrieved 25 January 2017.