According to the Vietnam Sugarcane Association, sugar inventory has increased to 322,250 tons this season, accounting for half of the output.
|Sugar inventory accounts for half of output this season (Photo: SGGP)|
Businesses have produced about 767,842 tons by Mid February but domestic consumption is slow while exports slowed down during the Tet holidays.
The association has so far not received any information from the Ministry of Industry and Trade on sugar exports this year.
Several sugar plants are facing shortage of capital but are still trying to purchase sugarcane at the same price as in early February.
At present, sugarcane price is VND900-970 a kilogram in the central and central highland regions; VND950-1,150 in the southeastern region; and VND855-940 in the Mekong Delta.
In some areas, sugarcane prices have fallen to VND450-520 a kilogram.