Smuggled Thai Sugar Overshadows Local Producers Hording Stocks

Currently the chaos in the domestic sugarcane and sugar markets has stepped up a level, with farmers taking a shortsighted view on profits, said Nguyen Thanh Long, General Manager of the Can Tho Sugar Joint Stock Company.

Farmers weigh their sugarcanes

Instead of selling sugarcane now, at record prices, farmers are hording their stocks and waiting for new records to be set, he said.

But there is a huge threat from Thai sugar being illegally imported, said the Custom’s Board of An Giang Province.

The illegal sugar is being transported and traded at borders and ports like Khanh Binh, Vinh Xuong, especially Vinh Xuong. The Thai sugar is packed 20-30kg sacks suitable for transport by bicycle to Tan Chau market.

Recently, the steering committee of An Giang Province announced the number of illegal imports intercepted rose to 1,463, worth over VND8.7 billion (almost US$544,000) in total, the highest record in recent years.

Related article:
Chaos in the Domestic Sugarcane and Sugar Markets



 

By Staff Writers – Translated by Truong Son

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