The Sugarcane Association issues industry development orientation for the period 2023 – 2024
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- Business
- 23:33 01/11/2023
DNHN - To encourage the recovery of sugarcane raw material areas as soon as possible, the Sugarcane Association has issued directives. In light of rising input costs, one suggested remedy is to keep raising the price at which farmers can purchase sugarcane.
The rising prices of sugar on the global market are expected to present numerous favorable opportunities for the Vietnamese sugar industry in 2023–2024, according to Mr. Nguyen Van Loc, Chairman of the Vietnam Sugar Association (VSSA). sexual orientation.
According to an International Sugar Organisation (ISO) market report as of August 2023, there was a shortage of more than 2 million tonnes of sugar in comparison to demand during the most recent crop year of 2022–2023, which caused sugar prices to spike sharply. worldwide. According to Mr. Loc's evaluation, domestic sugar factories' production activities have improved as a result of the rise in global sugar prices.
However, the last two sugarcane crops have shown indications of an increase in sugarcane area and output, according to VSSA data. This can be explained by the fact that the raw sugarcane purchase price was continuously increased by the Vietnamese sugar industry, reaching 1.1–1.3 million VND/ton. This circumstance also demonstrates how trade defense policies have greatly aided Vietnam's sugar industry's comeback in 2021.
Mr. Loc did, however, also note that many areas are still experiencing a slow rate of recovery in their sugarcane growing areas. The 2022–2023 crop year saw 141,906 hectares of sugarcane planted, up 17,151 hectares (13.75%) from the 2021–2022 crop year, according to the VSSA summary. He did, however, also stress that this figure is still low in comparison to earlier levels.
Mr. Loc and the Standing Committee of the Association have issued directives to address this issue by encouraging the recovery of sugarcane raw material areas as soon as possible. To guarantee a livable wage for people, one suggested remedy is to keep raising the price at which farmers can purchase sugarcane in the face of rising input costs. This is thought to be important to support the sustainable and efficient recovery of Vietnam's sugar industry and to motivate farmers to keep growing sugarcane.
PV / h
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