Thai sugar production likely to decline amid dry weather
Bangkok (VNA) – Thailand’s sugar production, the world’s third-largest sugar producer, may fall short of expectations this season due to dry weather conditions affecting sugarcane growth.
Director of the Thai Sugar Millers Corp Rangsit Hiangrat forecasted that the production for the 2023-2024 crop season would only reach 7.5 million tonnes, significantly lower than the forecast issued by the firm in November 2023 by 500,000 tonnes, and only about one-third of the production volume from the previous season.
As reported by the Bangkok Post, raw sugar futures last month capped the biggest monthly gain since April on a tighter supply outlook, and smaller output from Thailand will strain the market further. Thai millers are seeing the lowest yield from crushed cane in at least 13 years, according to government data.
Thai millers have produced 4.9 million tonnes of the sweetener from about 49.57 million tonnes of cane crushed since the season started on December 10, as per the Office of the Cane and Sugar Board. That amounted to a sugar recovery rate of about 9.9% as of February 1, down from 11.8% last season.
Over the 12 years to 2022-23, Thailand was able to produce more than 100kg sugar per one tonne of cane, equivalent to a recovery rate above 10%, data from the sugar board shows./.
Source Link: https://en.vietnamplus.vn/thai-sugar-production-likely-to-decline-amid-dry-weather/279345.vnp
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