The sugar cane industry in Vietnam was experienced difficulties, sugar production was decreased

Published 2020년 10월 17일

Tridge summary

The Vietnam Sugarcane and Sugar Association (VSSA) reported a significant decrease in sugar production in the 2019-2020 season, with output at 7,662,235 tons, falling short of the planned 9,750,475 tons, and marking the lowest yield since the 1999-2000 crop. The actual production was 405,979 tons lower than the previous season. This decrease is attributed to inaccurate forecasts, the implementation of the ASEAN Trade in Goods Agreement (ATIGA), which led to an influx of sugar imports, especially from Thailand, and the Covid-19 pandemic. The surge in imports has resulted in an oversupply and low market prices, impacting the cash flow and profitability of local sugar factories. The VSSA has urged the Ministry of Industry and Trade to apply trade remedies to imported sugar products to protect local production. The Ministry of Agriculture and Rural Development is also developing strategies to enhance the competitiveness of Vietnam's sugar industry.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On October 16, information from the Vietnam Sugarcane and Sugar Association (VSSA) said that in the 2019-2020 season, the output of raw materials put into processing was only 7,662,235 tons of sugarcane, while the expected plan of the producers. machine up to 9,750,475 tons, the lowest since the 1999-2000 crop. Wrong forecast The country currently has 29 factories in operation, sugar production is 913,397 tons, down 405,979 tons, equivalent to 34.58% compared to the previous crop. In which, sugar produced from sugarcane is 767,954 tons, the rest from imported raw sugar is 145,443 tons. VSSA recognizes that from the end of 2019, when starting in the sugarcane crushing season 2019-2020, with the forecast of a shortage of sugar supply in 2020, the sugar price will tend to increase at the beginning of the season and the inventory consumption of the previous crop will advantage. However, entering 2020, when Vietnam begins to implement its commitments to the ASEAN Trade in Goods ...

Source: CafeF