International Sugar Organization forecasted sugar yield will be shortage about 7 million ton in year 2016 – 2017 which lead sugar price may increase in the upcoming time, said by representative of Industry and Trade Ministry
According to Ministry of Industry and Trade, the signal of increasing price of international market will contribute to push price increasing dramatically. The wholesale price in this October increased from VND 100 to VND 500 per kilogram compared to previous month, increasing from VND 16,400 to VND 17,200 per kilogram. The retail price was stable, from VND 18,000 to VND 21,000 per kilogram.
This Ministry also estimated yield of sugar in November, 2016 reaching 60,000 tons, whereas the inventory of sugar is over 123 thousand tons. The supply is guaranteed to meet the demand of domestic customers. Therefore, the local sugar price in next month is steady.
However, International Sugar Organization estimated in 2016 – 2017 timeline, there is a shortage of 7 million ton so the sugar price may increase in the upcoming time.
Vietnambiz