HIPPO Valley Estates Limited reported a 68 percent increase in export sales volume from 40 246 tonnes in 2022 to 67 527 in the comparable period in 2023.
In a trading update for the third quarter ended December 31, 2023, chairman Canaan Dube said the company faced several challenges during the period under review but maintained steady sugar production.
He said the increase was made possible by the redirecting of the displaced local market volume to exports as a way to sustain operations.
“At the end of the crushing season, Hippo Valley Estates produced 194 684 tonnes of sugar, trailing behind the previous year’s figures. “The decrease in production was primarily due to lower yields and a shortage of critical spare parts, resulting in unscheduled mill stoppages and reduced plant reliability…”