Sugar prices likely to trend up due to lack supply

Sugar prices are likely to increase due to the shortage of 2.5 million tonnes of sugar during the 2019 – 2020 crop, experts forecast at the fourth conference of the ASEAN Sugar Alliance (ASA) underway in Ho Chi Minh City on June 17-18.

sugar prices likely to trend up due to lack supply hinh 0
Harvesting sugar canes (Photo: VNA)

Chairman of the Thanh Thanh Cong JSC Dang Van Thanh said due to global climate change, governments of Southeast Asian nations are working to keep the sugarcane industry competitive and meet consumers’ demand. 

ASA Chairman Pramode Vidtayasuk said the event attracts 23 associations, businesses and units from member countries. 

Participants will discuss issues regarding trade, market and product development policies, seek strategic solutions to the future of the regional sugar industry. 

Founded in 2016, ASA aims to foster strength of the sugar industry among member states, meet increasing sugar demand in the region.

VNA

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