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Thai sugar production likely to decline amid dry weather

Thailand's sugar production, the world's third-largest sugar producer, may fall short of expectations this season due to dry weather conditions affecting sugarcane growth.
Bangkok (VNA) – Thailand'ssugar production, the world's third-largest sugar producer, may fall short ofexpectations this season due to dry weather conditions affecting sugarcanegrowth.

Director of the Thai SugarMillers Corp Rangsit Hiangrat forecasted that the production for the 2023-2024crop season would only reach 7.5 million tonnes, significantly lower than theforecast issued by the firm in November 2023 by 500,000 tonnes, and only aboutone-third of the production volume from the previous season.

As reported by the BangkokPost, raw sugar futures last month capped the biggest monthly gain since Aprilon a tighter supply outlook, and smaller output from Thailand will strain the marketfurther. Thai millers are seeing the lowest yield from crushed cane in at least13 years, according to government data.

Thai millers have produced4.9 million tonnes of the sweetener from about 49.57 million tonnes of canecrushed since the season started on December 10, as per the Office of the Cane andSugar Board. That amounted to a sugar recovery rate of about 9.9% as of February1, down from 11.8% last season.

Over the 12 years to 2022-23,Thailand was able to produce more than 100kg sugar per one tonne of cane,equivalent to a recovery rate above 10%, data from the sugar board shows./.
VNA
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