Thailand’s third-largest sugar producer, Khon Kaen Sugar Industry (KSL), anticipates a decline of 10 to 15% in sugar cane output, down to five million tonnes, for its factories in the 2023 to 2024 crop 12 months because of drought. In comparison, the 2022 to 2023 crop 12 months yielded 6.four million tonnes of sugar cane. Despite the reduction in sugar cane production, KSL stays optimistic in regards to the industry’s future.
Chalush Chinthammit, KSL’s president, highlighted that “sugar costs in the world market stay excessive at round 22 cents a pound, which shall be good for the sugar trade.” The company predicts that Thai sugar cane production in the 2023 to 2024 crop yr will total 80 million tonnes, falling in need of the earlier goal of 100 to one hundred and five million tonnes.
KSL expects its revenue to increase by 20% this year, up from 16.6 billion baht within the earlier 12 months, driven by the gross sales of a new low-glycaemic index (GI) sugar product beneath Kane’s model. Developed in Unsung with Singapore-based Nutrition Innovation Co, the low-GI sugar is suitable for customers in search of to control their blood sugar levels. GI is a score system that measures how rapidly food containing carbohydrates and sugar impacts blood sugar ranges when consumed.
KSL goals to produce 148 tonnes of the new sugar product in 2023, with plans to boost capacity to 2,000 tonnes in the following yr. “There just isn’t plenty of cane left for making low-GI sugar after the cane-crushing interval ended,” Chinthammit noted. The company operates 5 sugar manufacturing vegetation across Khon Kaen, Loei, Sa Kaeo, and Chon Buri, with its Loei factory set to be the primary to produce low-GI sugar, stories Bangkok Post..