Zambia's top sugar producer says output up 22%
Sugar production at Zambia's largest sugar producer rose 22 percent to 385,000 tonnes in its financial year which ended March 31, the company said on Monday.
Zambia Sugar Plc, a unit of South Africa's Illovo Sugar ILVJ.J, said in a statement that sugar exports increased to 233,000 tonnes in the 2010/2011 season from 175,000 tonnes the previous season.
"Increased sugar production combined with duty free, quota free access granted to Zambia by the European Union led to 108,000 tonnes of sugar being exported to the EU," Zambia Sugar said.
A world sugar deficit boosted sugar demand regionally and a record 125,000 tonnes of sugar was exported into the region in the year ended March 31, the company said.
Record sugar production and sales increased revenue to 1,232 billion kwacha ($258 million) and operating profit to 174 billion kwacha from 908 billion kwacha and 159 billion kwacha, it said.
Firm world sugar prices were expected to sustain revenue realisation from all export markets where more sugar would be sold compared to previous years, it said.
This article was originally posted on Southern Africa Business Communities
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