The KTIS BioEthanol Company Limited, a manufacturer and seller or ethanol and a subsidiary of the sugar industrial leader Kaset Thai International Sugar Corporation Public Company Limited (KTIS), revealed that biotechnology business was gradually rising after the number of products sold had increased to more than 34% in the first six months, making 21.4% more income from the sale. It is also expected that over 75 million liters of products will be sold throughout the year thanks to customers’ confidence and effective raw material management.
Mr. Pipat Suttiwisedsak, Chief Operational Officer of KTIS BioEthanol Co. Ltd., said that, in this year, needs of ethanol consumption were continuously higher than the previous year, hence increasing amount of ethanol sale from the company during the first six months of the fiscal year of 2019 (between October, 2018, and March, 2019) – over 34% in comparison with the amount during the preceding fiscal year. As a result, although selling prices dropped, income from selling ethanol was 21.4% more.
During the first 6 months of the present fiscal year, the KTIS Group sold around 40.2 million liters of ethanol, earning around 895 million Thai Baht. It is because effective raw material management, particularly use of molasses, most of which come from Kaset Thai sugar production companies. Thanks to their daily highest production power of the world, sufficient molasses was provided to sugar companies throughout the year. It is therefore expected that, by the end of the present fiscal year (30 September 2019), more than 75 million liters of ethanol will have been sold. It is considered the high number if compared with the daily production power of 230,000 liters.
Even though Thai sugar industries and the world sugar prices are staggering, new economic mobilization, especially biotechnology economy, is possibly a better alternative. Thanks to strong agricultural bases, Thailand will have much potential in terms of biotechnology industries. Consequently, support from public sectors in terms of policy and other aspects like reduced capital costs of investors for biotechnology industries or promotion of human resources, is extremely essential.