High inventory drags sugar price down

According to the Vietnam Sugarcane and Sugar Association, sugar inventory was more than 230,000 tons at sugar refineries and trading companies under the association by the end of December last year.

The price of sugar has continuously dropped, sinking to around VND13,000-13,000 per kilo at factory. Due to low sugar price, some sugar refineries have lowered sugarcane buying price.

Particularly, the price of 10-ccs sugarcane declined from VND850 to VND800 per kilo at sugarcane field in Soc Trang Province while it slid from VND850 to VND840 per kilo in Can Tho City.

By Xuan Quang – Translated by Thuy Doan

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