Sugar demand expected to pick up in second half of 2021: MSM Malaysia

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Kuala Lumpur: Sugar demand is likely to increase by 5 to 10 per cent in the second half of this year, expects MSM Malaysia Holdings Bhd.

According to the news report published in Malaymail.com, Syed Feizal Mohammad, Group chief executive officer of the company said that as the industries continue to open after lockdown the demand had picked up by about five to 10 per cent in the first half of this year.

He was speaking while addressing a virtual press conference after the extraordinary general meeting (EGM) held today.

The pandemic impacted the sugar consumption in Malaysia lowering the consumption from 1.5 million tonnes to 1.2 million to 1.3 million tonnes.

“With situation returning to normalcy we are expecting the sugar consumption will pick up to pre-Covid level by next year,” he said.

 

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