Maputo, Mozambique, 1 Aug – Mozambique should export 203,000 tonnes of sugar this year which will bring in revenues of more than US$91 million, reports the state newspaper Notícias.
The same source indicates that sugar exports are expected to bring in nearly US$117 million in 2012 and increase in following years as the expansion process reaches its full potential.
The industry aims to achieve a total of more than 300,000 tonnes exported by 2015, potentially generating revenues of US$130 million per year.
The national sugar industry, in partnership with other regional producers, has invested US$11.19 million since 2001 to expand the STAM bulk sugar terminal at the port of Maputo, which handles more than 400,000 metric tonnes of sugar from national and regional markets.
This investment has been growing. Additional capital of US$4.5 million was recently approved for the STAM handling equipment.
Export markets include the European Union, the United States of America and African regional markets.
The sugar industry currently employs 36,000 workers during peak periods. It is therefore estimated that more than 150,000 people depend on the sugar industry for subsistence. (macauhub)