Thailand sees more sugar production after 17.6% boost this year
The closure of Bhimasingi and NCS sugar factories in Vizianagaram has devastated local livelihoods. The 1960-established Bhimasingi unit shut in 2020 due to technical issues, and a proposed upgrade was ignored. NCS closed from financial losses, selling land to repay debts. With high transport costs to distant factories, farmers abandoned sugarcane, causing cultivation to drop from 70,000 to 7,000 acres.
Thailand expects more sugar production after it saw an annual rise of 17.6% from the previous season on strong sugarcane prices and favourable rainfall, a senior official told Reuters on Friday. Thailand is world’s second-largest sugar exporter after Brazil and consumes 2.5 million tonnes of sugar domestically and exports the remainder of its production.
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Source : Trading View
