Thailand optimistic about domestic sugar supply
Thailand’s domestic sugar supply is sufficient to meet demand in the industrial and household sectors this year, with total consumption at 1.27 million tonnes in the first half, according to the country’s Office of the Cane and Sugar Board (OCSB).
It is reported by theinvestor.vn.
Virit Viseshindh, secretary-general of the OCSB said that sugar cane output is declining in Thailand and other countries because of drought, but officials are confident the country will not face a sugar shortage.
In the 2023-24 crop year, sugar cane output stood at 82.1 million tonnes, resulting in the production of 8.8 million tonnes of sugar, part of which will be exported.
Khon Kaen Sugar Industry Plc (KSL), a leading sugar cane producer in Thailand which owns 57 sugar factories in the country, expects sugar cane output to increase to 90-100 million tonnes in the 2024-25 crop year.
Sugar prices in Thailand are controlled by the Commerce Ministry, currently ranging from THB 27-28 ($0.78-0.81) per kilogramme. The impact of drought on sugar cane plantations in many countries has reduced global supply, driving up sugar prices on the world market by around 30%.