Vietnam: Sugar Prices Will Slightly Decrease This Month
The Vietnam Association of Sugarcane and Sugar Producers (VASSP) forecast that prices of sugar will drop slightly this November.
The association said that as of late Oct ten sugar refineries in Mekong Delta region have used 478,000 tons of sugarcane to churn out 35,000 tons of sugar, 3 tons higher than in the same period last year.
Other 26 sugar refineries are operating with a combined capacity of 90,000-10,000 tons.
Some 39,500 tons of sugar are in stock, up 10,400 tons against last month. With more than 27,000 tons imported sugar, VASSP said that the total sugar will meet the domestic demand.
At end-Oct sugar prices were high, after decreasing by VND200 per kg from the beginning. In big cities, sugar prices up to VND 14,400-VND14,500 per kg and the retail prices are between VND15,000-VND16,500, up 53,5% from beginning of 2009. (Vietnam Agriculture)
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