Ms. Applepatla, Minister of Industry, instructs the Sugar Board to pay close attention to global sugar prices.
With the world sugar price falling by 16.67% in the first half of 2024, the world sugar price is expected to not exceed US$0.21 per pound in 2024, mainly due to:
Excessive pressure on sugar stocks and the potential for domestic sugarcane prices to average THB1,200 per ton.
Ms. Applepatla revealed that the Sugar Board must closely monitor the world sugar price situation and is concerned that the world sugar price may affect domestic sugar prices.
The 2024/2025 season sugar price The current global average sugar price is US$0.20 per pound, down 16.67% from US$0.24 per pound in 2023.
Due to the large amount of inventory around the world, Brazil, the world's largest sugar producer, continues to increase its sugar production. And the share of global sugar production has also increased.
Improved sequentially. In addition, Thailand's sugar production in the 2023/2024 season was 881 tons, an increase of 12.80% from the previous forecast of 7.81 million tons.
As for the trend of world sugar prices in the second half of 2024, which will not exceed US$0.21 per pound, one factor is that Brazil will increase sugar production if
If India does not adjust its policy to allow sugar exports, it will cause sugar stocks in the world market to increase further. Thailand is expected to produce sugarcane in the 2024/2025 season.
Production will be 92 million tons, an increase of 11.96% from the previous season's 82.17 million tons.
The Secretary-General of the Sucrose Committee said that the Sucrose Committee has analyzed data to calculate the domestic sugar price in the 2024/2025 season if world sugar
If the price remains at $0.21 per pound, the domestic sugarcane price will be 1,200 baht per ton, down 15.49% compared to the previous season. And
The previous season's sugarcane price hit a record high of 1,420 baht per ton.
However, there are other factors that play a role in calculating the domestic sugarcane price. And the Sugar Board plans to increase production in the 2024/2025 season.
Production quality to ensure that sugarcane farmers get good yields and help factories get high-quality white sugar, which will increase sugar prices in the future and help increase
Farmer income
