International Sugar Journal

Mitr Phol acquires the remaining 50% stake in Olam’s sugar interest in Indonesia [Full subscriber]

The agribusiness Olam International has agreed to sell its remaining 50% stake in Indonesian sugar joint-venture Far East Agri to Mitr Phol Sugar Corporation for between US$82.5 million and US$85 million.

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Thailand – Court rejects land grab case against Mitr Phol by Cambodian villagers [Full subscriber]

A Thai court rejected on 4th July land grab case brought by Cambodian villagers against Mitr Phol on a technicality that it cannot be treated as a class action lawsuit, according to the plaintiff’s lawyer and a land rights organisation, reported Al Jazeera.

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Thailand – Cambodian farmers file lawsuit against Mitr Phol for alleged land grab [Registered]

The multinational Thailand-based sugar giant Mitr Phol is facing a lawsuit filed on behalf of about 3,000 people who were allegedly evicted from their farm holdings in Cambodia to make way for a cane sugar project, reported Reuters.

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Mitr Phol takes a stake in Olam to expand its sugar business into Indonesia [Registered]

Mitr Phol Sugar Corporation, the world’s fourth-largest sugar producer, will invest US$100 million for a 50% stake in the agribusiness group Olam’s wholly-owned Indonesian subsidiary Far East Agri.

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Thailand – Mitr Phol to invest US$1.4 bln over the next five years [Registered]

Speaking at a press conference, the President and chief executive Krisda Monthienvichienchai said that while bulk of the investment (28 bln baht (US$799.4 mln)) will be spent on its core sugar business, diversification is also the company’s priority.

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Australia – Mitr Phol cancels AU$360 million investment program [Registered]

This could be the start of a broader capital strike in the Queensland sugar industry as the other owners of sugar mills contemplate doing business under the restrictive rules imposed by the new regulation.

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Thailand – Mitr Phol pulls out of Cambodia over human rights infringements [Registered]

The company also has a stake in three others in the region: Angkor Sugar, Tonle Sugar Cane, and Cane and Sugar Valley. As a major supplier to Coca-Cola Co., Mitr Phol’s decision to abandon its concessions followed an audit in 2013 as part of the USA beverage giant’s “zero tolerance” stand on land appropriation.

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Thailand – Mitr Phol investing over US$130 mln in variety of renewable energy projects [Registered]

Prakitsri said the first tranche of 1 billion baht is allocated for expanding ethanol production capacity from 1.2 million litres/day to 1.45 million litres at its plant attached the sugar factory in Kalasin province. Another 1.7 billion baht is for capacity expansion of a cogen unit by 45 MW in the same area. Commercial operation of that project is expected to start at the end of next year.

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