With Thailand in the midst of its worst drought in four decades, sugar production is falling significantly for this year's crop cycle, pushing up the price of sugar globally, local media reported.
Thailand, the world's second biggest sugar exporter after Brazil, has decided to cut its exports of raw sugar by at least 500,000 tonnes this year, as a swelling global surplus has led to sharp falling prices.
Thailand, the world's second biggest sugar exporter, will apply a new management system for sugar production and distribution in the 2017-18 crop, which will begin in November.
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