More than 10,000 sugarcane–farm households in the central province of Phu Yen are earning higher profits thanks to the use of bagasse from a sugar factory to produce electricity.
While the ASEAN Trade in Goods Agreement (ATIGA) has been delayed until 2020, the future of the local sugar industry, with several sugar mills facing closure, remains uncertain, officials said.
The ATIGA (ASEAN Trade in Goods Agreement) implementation will be delayed by two years, which means Vietnam will not remove the sugar quota scheme and tariffs until 2020.
The sugar industry needs to restructure to compete with rivals in other countries such as Thailand, according to the Vietnam Sugar and Sugarcane Association.
Sugar prices in domestic market have fallen so sharply that sugar mills and sugarcane farmers in the Cuu Long (Mekong) Delta are facing difficulties.
The Ministry of Agriculture and Rural Development (MARD) estimates to earn VND664 billion ($29.25 million) after the auction of Vietnam Sugarcane and Sugar Corporation II JSC (Vinasugar II).
VOV.VN - Vietnam exported 43,000 tons of sugar to 28 markets, earning more than US$20.6 million to the end of September, said Pham Quoc Doanh, President of Vietnam Sugarcane and Sugar Association.
The Vietnamese government has set a target to fully divest from sugar mills by the end of this year, which is aimed at raising the competitiveness of the sugar industry, a local newspaper reported on March 6.
The area for organic farming makes up only 0.2% of total agricultural production, but the figure is expected to increase rapidly as more investors are considering developing organic farming projects.
The Ministry of Industry and Trade’s recent proposal on sugar import has put local sugar firms on the tenterhooks, and there is a demand for urgent support from the government to help firms get out of the woods.
Drought and saline intrusion this year caused a drop in the cultivation area and yield of sugarcane in the 2015-16 season, but farmers nationwide reaped profits from their harvests, though sugar quality was still considered insufficient.
Sugar mills nationwide turned out 1.2 million tonnes of sugar in the 2015-2016 sugarcane crop, a fall of 1.4 million tonnes from the previous crop, according to the Vietnam Sugarcane and Sugar Association (VSSA).
Prolonged salinization in the Mekong Delta region has heavily damaged sugarcane plantation areas in several provinces of southern Vietnam, local authorities have said.
(VOV) -Sugarcane growers are finding the proposed Trans-Pacific Partnership Agreement (TPP) with its 30 chapters and various side agreements a somewhat bittersweet pill to swallow.
(VOV) -Sugar Research Australia and the Vietnam Sugarcane Research Institute recently signed a 10-year agreement to participate in a project seeking new sugarcane production technology for the benefit of both countries.
(VOV) - Vietnam and Australia have signed a Memorandum of Understanding (MoU) on exchange of sugarcane varieties and cooperation in sugarcane disease and pest research.
The sugar industry aims to produce 1.56 million tonnes of sugar from processing 15.67 million tonnes of sugarcane during the 2015-2016 season.
Big companies in Vietnam have begun turning their attention to the agricultural sector to seek strong returns on their working capital.
(VOV) - The Vietnamese sugar industry has historically been insulated from global volatilities and competition as a consequence of governmental market protections. However the gloves are about to come off as free trade pacts are poised to come into effect.
(VOV) -The Vietnam Sugar and Sugarcane Association (VSSA) has proposed delaying removing import tariffs in anticipation of newly reached Free Trade Agreements (FTA).