Asia Seen as the Next Largest Sugar Importer

Manila—(PHStocks)—Asia is projected to be the next largest single sugar importer in the world in the near future.

Speaking to executives of sugar producer Roxas Holdings Inc. (PSE: ROX) last month, Robert Day, managing director for Asia of international trading firm ED&F Man, said the region is expected to import huge amounts of sugar in the next few years to meet rising demand in the region.

Day added that this provides opportunities for sugar producers like Roxas Holdings to establish a stronger presence in the region.

He also urged the listed producer to act quickly and seize the opportunity to broaden Roxas Holdings’ market share by preparing for this scenario.

Day noted that crop year 2013-2014 will be the fourth consecutive year of global sugar surplus, with production and consumption all over the world up at 50 million metric tons (MMT) to 60 MMT.