Domestic sugar prices surge 27% on year
The wholesale prices of refined sugar increased 27% on year to between VND18,500/kg-VND18,800/kg while the average retail prices of sugar rose to between VND19,500/kg-VND20,000/kg.
The wholesale prices of refined sugar increased 27% on year to between VND18,500/kg-VND18,800/kg while the average retail prices of sugar rose to between VND19,500/kg-VND20,000/kg, the online newspaper Saigongiaiphong reported on October 18.
Nguyen Thanh Long, President of Sugar Cane and Sugar Association, explained this surge that the world price of sugar inched up which Thailand sugar has been sold at between $800/ton-$850/ton, especially smuggled sugar. The imported sugar also costs VND18,000/kg.
Meanwhile, the prices of sugar cane input fell to between VND1 million/ ton at factory, down between VND200,000-VND300,000 per ton from the previous sugar cane crop. Therefore, the domestic sugar actually costs between VND13,500-VND14,000 per kilo. – Stoxplus.com
Tags: Vietnam sugar, Vietnam Sugar Prices