French biotech start-up Afyren is partnering with Mitr Phol, the world’s third largest sugar producer, to form a 70-30 joint venture biorefinery in Thailand.
Thailand – Mitr Phol partners with Marubeni to produce bioplastics from cane and cassava [Full subscriber]
Thai Sugar producer Mitr Phol is teaming with Japanese trading house Marubeni to produce bioplastics from sugarcane and cassava this year, reported Nikkei.
Thailand – Marubeni and Mitr Phol partner to pursue biofuel, renewable energy projects [Full subscriber]
Japan’s Marubeni said on 24th January it will partner with Thai sugar producer Mitr Phol Sugar to jointly make bioplastic products, produce bioethanol and develop renewable energy projects in Thailand.
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.
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.
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.
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.
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.
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.
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.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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