Global price of sugar is increasing

The global price of sugar has witnessed a surprising increase recently at about USD 12.27 USD cent/lb showing a bright signal for the Vietnamese sugar industry. In particular, the Vietnamese sugar field has been suffered from many incidents which were the threat from foreign suppliers via FTA in the domestic market, smuggling sugar, and the pandemic resulted in a remarkable fall in domestic sugar consumption as well as price. Therefore, growth in the global price of sugar is a great opportunity for Vietnamese sugar exporters to expand their market and penetrate potential markets.