Johannesburg, South Africa, 17 Jan – South African company Tongaat Hullet, the second-largest sugar producer in South Africa has lowered its forecast for sugar production in Zimbabwe and Mozambique by 20,000 tons for the financial year due to end in March, 2012.
According to a presentation to investors published on its website, Tongaat now forecasts production in Zimbabwe will fall to 360-380,000 tons and in Mozambique to 270–290,000 tons.
The company gave no reason for the lowered forecasts in the two countries.
For this financial year, ending March 30, production in these two countries will be lower expected, or at the bottom end of projections, and Tongaat expects to produce 333,000 tons in Zimbabwe as compared to a projection of 330,000 to 350,000 made in November.
In Mozambique, production is expected to be 165,700 tons as compared to a projection of 185,000-205,000 tons.
Tongaat Hullet, which has 14 factories in seven countries, has a capacity to produce 1 million tons in South Africa, 600,000 tons in Zimbabwe and 327,000 tons in Mozambique. (macauhub)