Al Khaleej Sugar, the world’s largest port-based sugar refinery, has been affected by a global glut as it has stopped production at its Dubai facility.
According to a report published in a leading news website, a source on the condition of anonymity said that the refinery, which processes raw sugar into the white variety, is currently closed.
Flood of sugar from India resulted in weak demand for the sweetener produced by Al Khaleej. Falling profits is also one of the reasons to halt production.
Record production of sugar from Thailand to India has affected the global market. Subsidies from the Central government are helping India to send sugar to the world market affecting the supplies from refineries including Al Khaleej.