Sugar prices rise globally, local sugar expected to surge

The Vietnam Sugar Association (VSSA) said the sugar price in the world recovered again after drought hit Brazil and India, causing these countries had no sugar to sell.

Sugar prices rise globally, local sugar expected to surge

It is expected that sugar price locally will rise in the next time. VSSA proposed measures to improve distribution systems, cut production costs and have more different products as well as optimize sugarcane-sugar chain.
Moreover, the association petitioned more effective measures against smuggling.
As per the association, during hydrolysis procedure to make corn sugar, producers add many chemicals, Vietnamese government should impose import tax of 10 percent like Thailand or ban such sugar to protect its local sugar sector like Brazil.
VSSA also said by the middle of May, 18 sugar factories ended production. These factories crushed 13.4 million tons of sugarcanes to make 1.27 million tons of sugar; of the amount, more than 434,100 tons are refined sugar.
According to VSSA, there is 670,000 tons of sugar in the stock.


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