President of the Sugarcane Association: India's ban on sugar exports has no impact on Vietnam

Published Aug 30, 2023

Tridge summary

India's sugar export restriction will have no impact on Vietnam's sugar industry as Vietnam has had minimal sugar transactions with India. The restriction also does not significantly affect the world sugar market, which is influenced by various factors. The Vietnam Sugar Industry Association emphasizes the importance of a balanced sugar market and opposes hoarding practices that lead to unreasonable price increases.

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Original content

"India's sugar export restriction does not affect Vietnam's sugar industry" In response to the news that the Indian Government is considering banning sugar exports for the next crop year, starting from October 2023, VSSA Chairman Nguyen Van Loc said that Vietnam has had almost no sugar transactions for many years. with India. "Basically (Vietnam - Reporter) does not trade anything with India in terms of sugar," according to Mr. Loc. In 2022, sugar imported from India into our country accounts for only 0.16% of the total amount of sugar that Vietnam imports. Therefore, India's restriction and ban on sugar exports has no impact and is not related to Vietnam's sugar industry. Above all, whether India exports or stops exporting will not have much impact on the world sugar market. "The world sugar market is affected by many impacts not only from supply and demand, but also from the impact of price support policies, subsidies and the influence of other industries," Mr. Loc explained. ...

Source: Vietstock