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Sugar inventory continues to rise

Update: June, 06/2013 - 11:00

HA NOI (VNS)— Sugar inventories increased to nearly 600,000 tonnes by the end of May, about 222,410 tonnes higher than in the same period last year.

The figures were made known by the Ministry of Agriculture and Rural Development and the Ministry of Industry and Trade.

The ministry said that the sugar stock had been increasing since March because of slow consumption and excess supply from sugar processing plants. Output far exceeded that of previous years.

Sugar plants across the country processed more than 15.8 million tonnes of sugarcane to turn out nearly 1.5 million tonnes of sugar, even though domestic sugar consumption is only 100,000 tonnes a month.

The next sugarcane crop will bring in 200,000 tonnes of processed sugar by October, not taking into account smuggled sugar coming in from Thailand.-VNS


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