Wilmar's sweet buy expands its sugar horizons

IN A single stroke, Wilmar International has gained access to the two largest sugar-producing countries in the world - and doubled its sugar-production capacity - at a bargain.

Already the world's largest palm oil processor, Wilmar has now raised its profile as a global sugar player through a recent deal to acquire a stake in India's largest sugar refiner Shree Renuka Sugars, confirming rumours that had been swirling for months.

Shree Renuka Sugars has seven sugar mills in India and four in centre-south Brazil, with a total annual crushing capacity of 20.7 million tonnes, more than Wilmar's current 17 million tonnes. It also owns two sugar refineries in India with a capacity of 1.7 million tonnes, near Wil-mar's current two million tonnes.