Thai sugar producer KSL faces 15% output drop, eyes low-GI product growth

Thailand’s third-largest sugar producer, Khon Kaen Sugar Industry (KSL), anticipates a decline of 10 to 15% in sugar cane output, down to 5 million tonnes, for its factories in the 2023 to 2024 crop year due to drought. In comparison, the 2022 to 2023 crop year yielded 6.4 million tonnes of sugar cane. Despite the reduction in sugar cane production, KSL remains optimistic about the industry’s future.

Chalush Chinthammit, KSL’s president, highlighted that “sugar prices in the global market remain high at around 22 cents a pound, which will be good for the sugar industry.” The company predicts that Thai sugar cane production in the 2023 to 2024 crop year will total 80 million tonnes, falling short of the previous target of 100 to 105 million tonnes.

KSL expects its revenue to increase by 20% this year, up from 16.6 billion baht in…