Not-so-sweet ride for sugar refiners

On track: File picture shows one of MSM’s refining facilities. The construction of MSM’s new RM1.04bil sugar refinery in Johor is well on track.

Margins will continue to be squeezed by rising costs of production on the back of weaker ringgit

BESIEGED by the spike in global raw sugar prices, most local sugar-refining players are not expecting a sweet ride this year, as their margins will continue to be squeezed by rising costs of production on the back of the weaker ringgit against the US dollar.