KUALA LUMPUR, JANUARY 23, – Malaysia’s leading refined sugar producer, MSM Malaysia Holdings Berhad (MSM) announced that they have procured the first quarter 2020 raw sugar requirement from one of the world top sugar producers, India, and is expecting the arrival of three shipments between January and February, bearing approximately 130,000 tonnes of raw sugar worth nearly RM 200 million.
“Over 900,000 metric tonnes of raw sugar has been imported in 2019 from various top producing countries which include India.
“We will continue to import raw sugar from top producing countries such as India, Brazil, Thailand and others whilst ensuring the raw sugar cost consistency in the benchmark of NY#11 and deliberately select our raw sugar suppliers to ensure minimal compromise in quality for our end product,” said MSM Group Chief Executive Officer, Dato’ Khairil Anuar Aziz.
India is ranked among the largest world’s sugar producers alongside Brazil and Thailand. India’s raw sugar production was reported to be slower for FY19/20 due to drier weather.
However, for FY20/21, India’s production is expected to recover due to improving rainfall in Maharashtra. Whilst production in Brazil is forecasted to be stable but millers are more attracted to produce ethanol due to attractive pricing.
In Thailand, production for FY19/20 has been lower due to poor rainfall in key planting areas.
Manoeuvring towards operational excellence, the acceptable quality and competitive freight cost of raw sugar produced from India, provides added-value and advantages for MSM to ensure a sustainable supply of best quality raw sugar stock for all of its refineries and facilitating efficient raw sugar procurement as part of cost-savings and operational improvement strategies.
Moving forward, MSM is all geared up to ensure a long-term sustainable and competitive business at local and international market. MSM also committed in the execution of its strategic growth plan to maintain cost discipline and redefining business by expanding new products development, increasing operational efficiency and reducing refining cost, stringent and effective raw sugar procurement process.