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 within the 2023 to 2024 crop year 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 remains optimistic about the industry’s future.
Chalush Chinthammit, KSL’s president, highlighted that “sugar prices in the global market stay high at around 22 cents a pound, which shall be good for the sugar trade.” The firm predicts that Thai sugar cane production in the 2023 to 2024 crop year will complete 80 million tonnes, falling short of the previous goal of one hundred to one hundred and five million tonnes.
KSL expects its income to extend by 20% this yr, up from sixteen.6 billion baht in the earlier 12 months, pushed by the gross sales of a new low-glycaemic index (GI) sugar product beneath Kane’s brand. Developed in partnership with Singapore-based Nutrition Innovation Co, the low-GI sugar is appropriate for customers in search of to manage their blood sugar levels. GI is a ranking system that measures how shortly meals containing carbohydrates and sugar affects blood sugar levels when consumed.
KSL aims to supply 148 tonnes of the model new sugar product in 2023, with plans to boost capability to 2,000 tonnes in the following yr. “There isn’ Complete of cane left for making low-GI sugar after the cane-crushing period ended,” Chinthammit famous. The firm operates five sugar manufacturing plants throughout Khon Kaen, Loei, Sa Kaeo, and Chon Buri, with its Loei manufacturing facility set to be the first to supply low-GI sugar, stories Bangkok Post..