PERTH: Consumption has been flat-lining, and appetite for the sweet stuff probably won’t grow much at all medium term as people shift to low sugar, diet and sugar-free options, said Charles Clack, a Rabobank analyst in Sydney.
Demand in the European Union has hardly changed in recent years, and several countries have imposed taxes on sugar consumption, including the UK and South Africa. In Australia, people consumed 10.8 kg per person of sugar and sweeteners in 2018, while consumption in North America was 11.5 kg, according to Euromonitor data.Health issues “are not exclusive to Australia but, with lower per capita consumption, there is a less pressing agenda in India and China to address sugar over-consumption,” said Clack.
“Some people may not like it when I say this because I’m in the sugar business, but logically we as human beings need sugar as well, and moderation with a balanced lifestyle is very important,” he said in an interview.MSM is hoping to tap rising demand in China, and is in the final stages of discussions to set up partnerships in the nation’s downstream industry. It also wants to sell sugar for popular snacks such as bubble tea and for health drinks.
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