Sugar Prices Still High in Vietnam despite Sharp Reduce in Global Market
Vietnam’s consumers still have to buy sugar at high prices despite a sharp reduce of sugar prices in the global market.
In supermarkets in Hanoi, sugar is offered at VND19,600-VND21,000/kg (US$1.02-US$1.1/kg), and in wholesale markets, sugar is selling at VND15 million-VND16 million a ton (US$780-US$837 a ton) while in the global market, sugar is offered at US$400-550 a ton.
In 2009-2010 crop, Vietnam produced 850,000 tons of sugar, down 150,000 tons from the previous crop, Pham Thi Sum, chairman of board management of Bien Hoa Sugar JSC was quoted as saying.
Earlier, the Ministry of Industry and Trade allowed local firms to import 200,000 tons of sugar this year to cool the domestic market. (Vietnam Agriculture)
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