South Korea: International sugar price trends and forecasts

The Ministry of Agriculture, Food and Rural Affairs (Minister Jeong Hwang-geun, hereinafter referred to as the Ministry of Agriculture, Food and Rural Affairs) announced that it expects international sugar prices to remain high for the time being, but that the possibility of an increase in domestic sugar prices due to this is extremely low. As of October 13, the international sugar price is $727/ton, 35.0% higher than last year. This is due to the possibility of a reduction in the Indian government's sugar export quota and the prospect of a decrease in raw sugar production in Thailand next year. International sugar prices are expected to remain at the current high level for the time being. However, the Ministry of Agriculture, Food and Rural Affairs stated that the impact of the current high international sugar price on domestic sugar prices will be minimal. As a result of the Ministry of Agriculture, Food and Rural Affairs checking with sugar mills, the price of sugar supplied ...