ZAMBIA SUGAR PLC SAYS SUGAR PRODUCTION SAYS ROSE 22 PERCENT

ZAMBIA SUGAR PLC SAYS SUGAR PRODUCTION SAYS  ROSE 22 PERCENT TO 385,000 TONNES IN ITS FINANCIAL YEAR WHICH ENDED MARCH 31.

ZAMBIA SUGAR PLC, A UNIT OF SOUTH AFRICA'S ILLOVO SUGAR HAS SAID IN A STATEMENT THAT SUGAR EXPORTS INCREASED TO 233,000 TONNES IN THE 2010/2011 SEASON FROM 175,000 TONNES THE PREVIOUS SEASON.

THE COMPANY EXPLAINS THAT THE 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.

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.

AND RECORD SUGAR PRODUCTION AND SALES INCREASED REVENUE TO 1,232 BILLION KWACHA AND OPERATING PROFIT TO 174 BILLION KWACHA FROM 908 BILLION KWACHA AND 159 BILLION KWACHA, IT SAID.

THE FIRM WORLD SUGAR PRICES ARE EXPECTED TO SUSTAIN REVENUE REALISATION FROM ALL EXPORT MARKETS WHERE MORE SUGAR WOULD BE SOLD COMPARED WITH  PREVIOUS YEARS.

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