Australian sugar industry dominated by Singapore, Belgium and Thailand

All but six of Australia’s 24 raw sugar mills are owned directly by overseas companies. Find out who is investing where.

James Wagstaff

@james_wagstaff

2 min read

July 30, 2021 - 9:16AM

The Weekly Times

Australia’s sugar industry is majority owned by foreign investors.

ALL but six of Australia’s 24 raw sugar mills are owned directly by overseas companies.

A Weekly Times investigation into who owns the nation’s agriculture supply chain shows multinational companies from Singapore, Belgium, Thailand and Germany have invested heavily in the sugar-farming space in recent years.

Queensland farmer and Canegrowers Queensland chairman Paul Schembri said foreigners adding a sweetener to Australia’s agricultural industry had its fair share of ups and downs.

Mr Schembri said 85-90 per cent of Australia’s sugar mills were now overseas owned, a sharp turnaround from 25-30 years ago when a similar percentage of the industry was locally backed, typically by grower-owned co-operatives.

“In a perfect world we would want that to be the case but it is not how it has panned out,” Mr Schembri said.

“Obviously at least we’ve had investors wanting to invest in our industry, and they have introduced much-needed capital into our industry, but they are foreign companies.”

Mr Schembri said offshore investment in the sugar industry generally came from companies that are global sugar players and had an interest in their own domestic market – Wilmar International from Singapore, Finasucre from Belgium, Nordzucker AG from Germany, COFCO from China and the Mitr Phol Group from Thailand.

“Regardless of who owns the mills, whether they be Australian-owned or foreign-owned, it is the nature of the relationship between the growers and the mill (that determines whether it is a success or not),” he said.

“It is a symbiotic relationship where they both need each other. So when we have foreign investment it is important that those foreign companies understand the growers, understand Australia’s institutional arrangements. It has had its moments … I’d be lying if I said otherwise.”

FOREIGN-OWNED SUGAR MILLS

Ayr, QLD — Wilmar International. SINGAPORE

Brandon, QLD — Wilmar International. SINGAPORE

Bundaberg, QLD — Finasucre. BELGIUM

Farleigh, QLD — Nordzucker AG. GERMANY

Giru, QLD — Wilmar International. SINGAPORE

Gordonvale, QLD — Mitr Phol Group. THAILAND

Home Hill, QLD — Wilmar International. SINGAPORE

Ingham, QLD — Wilmar International. SINGAPORE

Mareeba, QLD — Mitr Phol Group. THAILAND

Marian, QLD — Nordzucker AG. GERMANY

Maryborough, QLD — Mitr Phol Group. THAILAND