Domestic sugar prices sold expensive at $100/ton

Vietnam’s domestic sugar prices are currently sold at $900/ton, $100 higher than the world prices

Vietnam’s domestic sugar prices are currently sold at $900/ton, $100 higher than the world prices, the online newspaper Phapluat TP HoChiMinh reported on February 16, citing Nguyen Van Loc, General Director of Bien Hoa Sugar JSC, one of four sugar companies listed on the HoSE.

The domestic retail prices of refined sugar is around VND20,000/kg. Local sugar firms and famers are selling at a profit at the current prices. Local firms can earn VND5,000/kg as full capacity.

Sugar output is forecast to reach 1 million ton in the 2010-2011 crop, unlikely meeting the domestic demand. Therefore, the Ministry of Industry and Trade (MoIT) has granted a quota of 140,000 tons of refined and crude sugar to 24 local sugar importers until 7 July 2011.

Earlier, Vietnam cut the import quota of sugar in 2011 to 250,000 tons, down 50,000 tons from 2010, according to the Circular 45/2010/TT-BCT of the Ministry of Industry and Trade(MoIT). – Stoxplus.com

Tags: Vietnam sugar, Vietnam Sugar Prices

Posted by VBN on Feb 16 2011. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry