India’s Largest Sugar Refiner to Enter Brazil

India’s largest sugar refiner Shree Renuka Sugars says it is considering additional investments in Brazil. Shree Renuka Sugars already owns majority stakes in two Brazilian firms that it acquired last year November.

The Indian sugar producer said it would be acquiring more investments to bolster its existing two and increase its presence and business in Latin America’s biggest economy, Brazil.

Narendra Murkambi, Shree Renuka Sugars’ managing director was quoted saying that even though the firm was mulling additional Brazilian investments, there is not any firm or immediate considerations as it is currently.

Brazil is the biggest global producer of sugar and the company’s move for more investments is targeted at increasing its dominance and presence in the region and globally. The managing director further added that Shree Renuka was keen on acquisitions but nothing tangible is on the offing.

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