LOGO

The control of sugar exports in India and Brazil might be a feel-good factor for Thai sugar industry

3bd7b25174c6413f49872e3a65442cd7-gigapixel-scale-1_00x
According to the Universal Daily News, June 30, the current sugar price is 19 to 20 US cents per pound in global market, up more than 20 % year on year, and there is a continuing upgoing trend. Main reason is that India and Brazil, two main exporters of sugar, have announced the control over the sugar exports in order to balance domestic consumption, which now become a feel-good factor for the growth of the sugar industry in Thailand. In the first three months of 2022, Thai sugar export data showed that in January, the totalexporting volume was 0.18 million tonnes, up 23.98% year on year, and the exports of 30.3 billion baht. In February, exports were 0.220 million tonnes, up 49.48% year on year , and exports of 3.5 billion baht. Exports in March were 0.2 million tonnes, up 14.76 % year on year, and exports of 3.18 billion baht. The chairman of Thai industry federation's sugar industry group, said the devaluation of the Thai currency was also a factor in the increase in the number of sugar exporters, prompting farmers to increase the price of sugar cane, encouraging farmers to expand the area of sugar cane and increase the future production of Thailand. 


Need help or have a question?

Send mail