Compounding the elevated fuel costs were severe global supply-chain bottlenecks and aircraft availability constraints.
Despite significant growth in horticultural production, the country still faces hurdles such as water scarcity and high operational costs.
The offer is on the table until September 15, so shareholders have time to decide whether to take the deal.
India expects adequate sugar stocks until October despite a production shortfall, while rising festive demand and global prices add pressure to the domestic market.
Kenya is tightening sugar sector oversight through faster farmer payments, mobile weighbridges, quality-based cane testing and expanded domestic sugar refining.