New Delhi, Aug 14 (ANI): Indian sugar giant Ferrara Candy has decided to open its first factory in a sugar plantation in Andhra Pradesh state.
The company, which is based in Tirunelveli, plans to produce cane in the southern state for the next few years, Ferraro Cacao President and Managing Director, Anil K. Vadani said here.
“We will be exporting the product in the next year or two.
We have the capacity to make about 10 million tons annually,” Vadania said.
The sugar plantation, called Jhajjar, was started by Ferraria last year and will be the first one of its kind in India.
Ferrara will also supply its own brand of cane to the state.
“Our focus is on the supply of cane in a state that is at the crossroads of the sugar industry and that has already achieved the status of being one of the most industrialised in the country,” Vardania said, adding that the company will also produce sugar in other states such as Madhya Pradesh, Maharashtra, Karnataka and Tamil Nadu.
Farrarabi’s move comes at a time when India is on course to surpass the US as the world’s second largest sugar producer.
The world is now producing 1.8 billion tonnes of cane annually, according to the United Nations.
The global sugar demand has soared in recent years, as demand for the sugar-sweetened beverages and other food products such as biscuits, cookies and tea has grown.
Firamalakshmi Vaidyanathan, director general of the US Department of Agriculture, said in July that India was in a critical situation.
“With the world supply of sugar declining, demand is growing and so too is supply,” Vaidyanathan said.