ONE of Asia's biggest sugar refiners is in talks to sell the sweetener in China, seduced by the country's"new generation" of consumers.
MSM Malaysia Holdings Bhd is nearing the final stages of discussions to set up partnerships in China's downstream sugar industry, executive director Khairil Anuar Aziz said. The refiner is looking to sell sugar for popular snacks such as bubble tea, health drinks and bread, as well as healthier sweeteners, condensed milk and molasses used in alcohol.
There's"opportunity if you really blend it with the current lifestyle of people" in China, Mr Khairil said in an interview at the company headquarters in Kuala Lumpur last week."We really want to provide sugar to all these different industries - bakeries, bubble tea, healthy drinks. The demand is there."MSM's wager on China follows a tumultuous time for the global sugar market, which has been one of the worst performers in recent years.
MSM is hoping China can help turn things around. The refiner, the world's sixth largest for standalone capacity at 2.25 million tonnes per year, sees China as Asia's next biggest sugar market as the younger generation become increasingly busy and pick up easy-to-eat sugary snacks on the go. BLOOMBERG
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Source: The Straits Times - 🏆 8. / 63 Read more »