Vietnam had 390,000 tons of sugar in stock at the end of June, reported the Ministry of Agriculture and Rural Development.
|Farmers harvest sugarcanes in Phung Hiep district, Hau Giang province (Photo: SGGP)|
In the crop of 2014-2015, the country’s sugarcane area reached 305,000 hectares with an average productivity of 65.3 tons a hectare and total output of 20 million tons.
Provinces and cities with sugar processing plants had 293,000 hectares, of which the plants have signed contracts to consume over 255 hectares accounting for 87.3 percent.
Meantime, sugarcane prices swung from VND750,000-900,000 a ton, down VND110,000-150,000 over the previous crop.
Sugar price has been reducing for the forth consecutive crop. A kilogram of white sugar type 1 was priced only VND11,000-13,000. With this price, many farmers have broken even or suffered losses.
The ministry has proposed the sugar plants to coordinate with farmers to re-plan sugarcane farming area, supplement new sugarcane varieties, mechanize production and reduce post-harvest losses.