Thailand’s third-largest sugar producer, Khon Kaen Sugar Industry (KSL), anticipates a decline of 10 to 15% in sugar cane output, down to 5 million tonnes, for its factories in the 2023 to 2024 crop year due to drought. In comparison, the 2022 to 2023 crop year yielded 6.4 million tonnes of sugar cane. Despite the reduction in sugar cane production, KSL remains optimistic about the industry’s future.

 

Chalush Chinthammit, KSL’s president, highlighted that “sugar prices in the global market remain high at around 22 cents a pound, which will be good for the sugar industry.” The company predicts that Thai sugar cane production in the 2023 to 2024 crop year will total 80 million tonnes, falling short of the previous target of 100 to 105 million tonnes.

 

KSL expects its revenue to increase by 20% this year, up from 16.6 billion baht in the previous year, driven by the sales of a new low-glycaemic index (GI) sugar product under Kane’s brand. Developed in partnership with Singapore-based Nutrition Innovation Co, the low-GI sugar is suitable for customers seeking to control their blood sugar levels. GI is a rating system that measures how quickly food containing carbohydrates and sugar affects blood sugar levels when consumed.

 

By Alex Morgan

Caption: Photo Courtesy of KSL's official website

 

Full Story: https://thethaiger.com/news/business/thai-sugar-producer-ksl-faces-15-output-drop-eyes-low-gi-product-growth

 

-- © Copyright Thaiger 2023-06-16

 

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remind me to give a s*** next year when farmers are burning their fields again.