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FINANCIAL NEWS
Algeria’s Cevital to double sugar exports
05 Dec 2010
(MENAFN) A senior executive at Algeria’s Cevital said that the company is planning to double to 1 million tons its white sugar exports before the end of next year and will raise production capacity by 25 percent as it boosts business with Asia, Reuters reported.
The company has added clients in India and Sri Lanka to its portfolio of customers in Asia after Bangladesh, said Cevital’s sole owner.
In June, the director of Cevital’s sugar refinery said that the firm planned to raise the capacity of its plant in the Mediterranean city of Bejaia which he put then at 1.65 million tonnes.
Algeria, with its 35-million population, annually consumes about 1 million tons of white sugar. Cevital, Algeria’s sole sugar refiner, imports most of its raw sugar from Brazil but faces competition from Algerian importers of white sugar.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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