Vietnam: Sugar Prices Hit Record of VND20,000 Per Kg

Sugar prices keep rising from VND15,200 per kg since the second half of Nov and hit VND19,000-VND20,000 per kg.

Le Xuan, head of the Department of Agro-Forestry Products Processing and Salt Production under the Ministry of Agriculture and Rural Development said 18 sugar refineries can produce 4,000 tons daily.

Experts said that the prices of sugar keep rising at the domestic market due to low sugar stockpile of about 20,000 tons, much lower than 48,000 tons last year.

Sugar prices have also risen on the world market due to high demands from Pakistan, Mexico and India, at reduced yield by 6 million tons in 2009-2010 crop.

Le Xuan confirmed that Vietnam will have enough sugar in 2009 as refineries produced 80,000 tons of sugar by mid Nov and the import quota of 10,000 tons is still in effect. (Vietnam Agriculture)

Tags: Vietnam Sugar Prices

Posted by VBN on Dec 3 2009. 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