Sugar slowly moves to market
Cambodia’s five major sugar producers exported just 4 percent of the country’s planned refined sugar capacity to the international market last year, equalling only 80,000 tonnes, a sign that government officials said means the sector still has ample room for growth as sugar companies push for higher yields. According to data in the yet-unpublished annual report of the Ministry of Industry and Handicraft, nearly 100,000 hectares has been earmarked for sugarcane plantations with a planned capacity of 1.8 million tonnes of refined sugar per year. However, just a small portion of this land is currently under cultivation by five producers: Rui Feng and its four sister companies, Kamadhenu Ventures (Cambodia) Ltd, Phnom Penh Sugar Co Ltd, Yellow Field International Ltd, and Koh Kong Sugar Industry Co Ltd. The report highlighted that the mammoth $1.5 billion project by Rui Feng could at full capacity earn profits of $180 million a year, providing it stuck to plan.