Small sugar producer, Vietnam expects to increase its output by 12 percent to 1.39 million tonnes in the next cane crushing season, nearly sufficient to meet domestic demand, an industry report showed.
Large refiners are expected to turn out 1.29 million tonnes during the October 2007 to April 2008 crushing season, from 1.24 million tonnes this season, an Agriculture Ministry report said. Smaller refineries would produce 100,000 tonnes, similar to this season, bringing the total output to 1.39 million tonnes, the report, delivered to an industry meeting last on Saturday, said.
Domestic consumption could reach 1.45 million tonnes next season, and the Trade Ministry has licensed an import of 50,000 tonnes to make up the shortfall, the Vietnam Agriculture newspaper said.
Vietnam made a commitment to import 55,000 tonnes annually after it became a World Trade Organisation member in January. Sugar retail prices have been stable at 7,500 dong-8, 000 dong (46.5-49.6 US cents) per kg in the Mekong delta and at 8,500 dong to 9,000 dong per kg in Ho Chi Minh City markets, the country's largest city and also the key consuming area.
"Sugar refineries have chance to keep prices stable in 2008 but this would depend on good management of imports and also the fight against sugar smuggling," the Agriculture Ministry said.
Comments
Comments are closed for this article.