Mitr Phol Sugar, Thailand biggest sugar miller, plans to boost domestic production by at least 5 percent to 1.9 million tonnes in the next crop year, mainly to serve growing demand in Asia, its president said on Thursday.
Krisda Monthienvichienchai said the company would continue to produce 1.8 million tonnes from its milling houses in China and Australia, as well as increase production in its Laos plant, to provide sugar for its Asian customers.
“This year we are focusing on Asia as our first priority as demand remained strong,” Krisda told Reuters.
The crop year ends in September, with crushing beginning a month later.
Asian nations import around 10 million tonnes of sugar a year, of which around 65 percent is from Thailand, 20 percent from Australia and the rest from Brazil.
Mitr Phol usually exports around 70 percent of its annual production of nearly 4 million tonnes to China, South Korea, Indonesia, Japan as well as several countries in Europe.
The company has 7 milling houses in China, one in Laos and 4 in Australia.
It is currently building its sixth milling unit in Thailand which will have a crushing capacity of 20,000 tonnes a day and start producing by the end of the year, Krisda said.