Positive outlook for Vietnam's sugar production output in 2024

Source: stockbiz.vn The outlook for production output in the 2023/2024 crop is expected to be positive thanks to the expansion of the domestic sugarcane raw material area in the context of a sharp increase in sugar prices. Domestic sugar prices go against the world. Commenting on world sugar prices in 2024, FPTS Securities Company said that according to World Bank forecasts, world sugar prices in 2024 will decrease by 6% to 490 USD/ tons as concerns about tight supply eased as global manufacturing output improved as the weather outlook became more positive. The current El Nino state is forecast to last until mid-2024, after which the weather may change to a neutral state. Thus, in the second half of the 2023/2024 crop year, climate conditions are expected to be more favorable for sugarcane cultivation and harvesting, helping to increase global sugarcane output. According to the November 2023 forecast of the International Sugar Organization (ISO), global sugar production in the ...