Hanoi (VNS/VNA) – Sugar could become more expensive in the remaining months of 2023, according to the Vietnam Sugarcane and Sugar Association (VSSA). Data from the Vietnam Commodity Exchange (MXV) showed global sugar prices had reached 161 USD per tonne in early November, a 150% increase compared to the beginning of the year, marking the highest price in the last 12 years. Industry experts said a decrease in supply as India and Thailand, two of the largest producers, lowered their output was the main factor behind recent price hikes. Thanh Thanh Cong-Bien Hoa JSC, a major sugar producer in Vietnam with a 46% market share, said the company’s revenue increased to 5.9 trillion VND (245.8 million USD) in the first…
Published Date: 2023-11-22
Source: VietnamPlus
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