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
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
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]
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.
