News International Sugar Journal

Sumitomo, Taikoo Sugar and TS partner to exploit expanding demand for refined sugar in China [Registered]

The Japanese Sumitomo Corporation is partnering with the Chinese Taikoo Sugar Limited and South Korean TS Corporation for production and sales of sugar in Guangdong Province, China. Taikoo, TS and Sumitomo Corporation will own 34%, 33% and 33% interests, respectively, in the joint venture (JV) company. As the beverage market expands in tandem with the rapid economic growth, expanding middle class and westernization of dietary patterns in China, sugar consumption is expected to grow 5% annually. The demand for high-quality sugar is increasing mainly from major food processing manufacturers and volume retailers. Taikoo, TS and Sumitomo Corporation have already worked…

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