Wilmar to grow its sugar business


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Singapore: Over the past few years, sugar prices have been quite depressing due to a glut in the global supply. Wilmar International is planning to enlarge its sugar operation despite not the favourable scenario in the world sugar market.
According to a report published in Asia.nikkei.com, U.S. commodities giant Bunge sold its international sugar trading operations to Wilmar, whose price has been made confidential. Singapore-based Olam also announced an exit plan to the business and unearth its intention to sell sugar assets, which include two mills in India. According to the media report, Wilmar would consider buying the two Olam mills if prices are low.
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