Thailand’s Cabinet on May 11 approved a subsidy worth 6 billion baht (192 million USD) for sugarcane farmers who cut fresh cane for sugar factories instead of burning them, in a bid to reduce air pollution caused by the burning of plantations.
The prospects for the domestic sugar industry look brighter this year due to efforts to control smuggling and the imposition of duties on sugar imported from Thailand.
Tariffs cut to zero under the ASEAN Trade in Goods Agreement (ATIGA) from January 1 this year and the COVID-19 pandemic have made for a tough year for the sugar industry, heard an online seminar held by Nhan Dan (People) e-newspaper on September 16.
Thanh Thanh Cong-Bien Hoa JSC (SBT) has announced that the German development finance institution DEG, owned by the German Government, invested 28 million USD to buy convertible preferred dividend stocks at 30,000 VND (1.26 USD) each, 84 percent higher than SBT’s market price on July 25.
The area under sugarcane in the Mekong Delta has shrunk dramatically during the 2019-20 crop after many farmers switched to other crops following losses in recent years.
The sugar industry needs to restructure to compete with rivals in other countries such as Thailand, according to the Vietnam Sugar and Sugarcane Association.
Thailand produced 10 million tonnes of sugar from 93 million tonnes of sugarcane during the 2016-2017 crop from December 6, 2016 to the first week of May 2017.
Sugar producers, distributors and consumers discussed production and consumption in 2015-16 and forecasts for the next season at a recent seminar in HCM City.
Five years after staying silent in the market, sugar stocks rose with high liquidity, thanks to better sales from local firms and higher demand in the world market.
Cambodian Prime Minister Hun Sen on April 19 attended an inaugural ceremony for a sugar mill with a daily capacity of 1,000 tonnes in Preah Vihear province.
Vietnam Development Bank (VDB) will give 330 billion VND (15.7 million USD) for a project to increase the capacity of KCP Vietnam Industries Limited (KCP VIL) in central Phu Yen province.
World
