BangkokPost-May 27
Thai officials are working to ensure adequate sugar supply in the country amid concern over huge projected exports as global prices surge. Global sugar prices are being monitored after India, the world’s largest sugar producer and second-largest exporter after Brazil, decided to curb its sugar exports, said Ekapat Wangsuwan, secretary-general of the Office of the Cane and Sugar Board (OCSB). India imposed a restriction on sugar exports for the first time in six years, capping the amount at 10 million tons to prevent a surge in its domestic sugar prices. Sugar prices on the world market increased after Brazil, the world’s largest sugar producer, started using more sugar cane as a feedstock for ethanol manufacturing because ethanol has a higher profit margin than that of sugar, despite the global oil price surge. Brazil, also the world’s second-largest producer of ethanol, used to mix in benzine for the fuel. The OCSB is confident Thai exports of sugar will not greatly increase even as global prices rise because there are state measures in place to prevent a sugar shortage in the domestic market, he said. “Thailand has prepared enough sugar to serve consumption in the country,” said Mr Ekapat. Thai sugar cane farmers are monitoring fertilizer and labor costs, which have increased and threaten to affect the sugar industry, said Mr Narathip. Read more at: https://www.bangkokpost.com/business/2316594/board-allays-unease-over-sugar-supply
