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VICHAYA PITSUWAN
Mitr Phol, Thailand's biggest sugar miller, has introduced the first industrial liquid sugar product in Asean in a bid to add more value to its sugar business.
According to Kanong Sakpetch, managing director of the group's sugar business, the move is part of a strategy to develop new products.
''Diversifying products to add more value to sugar will be the key success strategy for us because the sugar industry itself is not expected to grow much,'' Mr Kanong said.
The sugar industry has been declining in the first half of the year due to the economic slowdown.
Mitr Phol has invested 200 million baht in building a plant with a daily capacity to turn 200 tonnes of dry sugar into liquid sugar.
The plant produces Sucroseweet, a 100% sucrose syrup, and Inversweet, which is 25% glucose, 25% fructose and 50% soluble sucrose.
He said that the recipes were created to cater to its major clients in the food processing industry, who use two types of syrup in food production. Liquefied sugar is commonly used in canned fruits, soft drinks, candies and bakery products.
''Up to 40% of local food processors need sugar syrup for their production,'' he said. ''Traditionally they have been buying crystal sugar and turning it into syrup themselves. There is no instant liquid sugar available in the market.''
The plant is operating at 50% capacity to serve local and export markets. Mr Kanong expects it to be operating at full capacity by next year, one year ahead of schedule. ''We also plan to invest an additional 200 million baht to build another liquid sugar plant next year,'' he said, saying that response had been positive in both local and export markets.
The company also aims to offer liquid sugar for the retail market later this year.
Mitr Phol is also planning to re-size its existing products in response to changing consumer behaviour. The launch of new products and product resizing would require a 20% increase in the marketing budget this year.
Mitr Phol holds a market-leading 18% share of domestic sugar sales.
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