Sugar stockpile not so sweet

Over 35,000 tonnes of refined sugar has still been in stock in Tay Ninh province

until April 18, which is two times higher than that in the previous year’s

corresponding period. Of the total volume of stockpiled sugar, about 30,000

tonnes are in Bourbon sugar factory, and 5,000 tonnes in Nuoc Trong factory.

The reason for the stockpiles is an increasing amount of smuggled sugar brought

in from Thailand that undercuts local prices by 400-1,200 dong a kilogram. The

current retail prices of sugar are: 7,200 dong a kilogram for Bien Hoa sugar,

6,200 dong for Bourbon sugar, and 5,800 dong for Nuoc Trong sugar. Meanwhile,

Thai sugar sells for only 5,800 dong a kilogram.

 

Category: Business