KUALA LUMPUR (Jan 23): MSM Malaysia Holdings Bhd is ramping up its procurement of sugar from India, amid the ongoing palm oil spat with the republic. In a statement today, the refined sugar producer said it has procured its raw sugar requirement for the first quarter of 2020 from India. MSM said it is expecting the arrival of three shipments between January and February, bearing approximately 130,000 tonnes of raw sugar worth nearly RM200 million. MSM group chief executive officer Datuk Khairil Anuar Aziz said over 900,000 tonnes of raw sugar has been imported in 2019 from various top producing countries including India. In Thailand, production for FY19/20 has been lower due to poor rainfall in key planting areas.

Source: The Edge Markets January 23, 2020 04:19 UTC