May 4, 2020 / 6:46 AM / a month ago

Tate & Lyle sugar volumes hit as out-of-home entertainment takes a backseat

May 4 (Reuters) - British food ingredients maker Tate & Lyle on Monday said U.S. demand for its sugars and syrups used by restaurants, cinemas and other public facilities fell in April as thousands of businesses remained closed by coronavirus lockdowns.

The company said “bulk sweetener” volume was 26% lower, but demand for ingredients used in packaged food was higher as consumers stocked up on items during the pandemic. Volume for its industrial starch also fell 9%.

Tate & Lyle expects to report results slightly ahead of its forecast for the year ended March 31, as it was not significantly hit by the pandemic in March. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Anil D’Silva)

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