Sugar inventory hits record highSugar plants have reported their highest ever inventory level, nearing 750,000 tons, accounting for 50 percent of their processing output. Sugar inventory reaches the highest ever level this yearExplaining reasons for the high inventory yesterday, chairman of Vietnam Sugar and Sugarcane Association (VSSA) Pham Quoc Doanh said that unusual weather has caused material shortage at the beginning of this year processing crop. Sugar import quotas, as per WTO commitments, left from last year has contributed to the inventory this year. Illicit sugar import has reached 400,000 tons now accounting for one third of the total processing output. In long term, the ministry proposed to increase sugarcane productivity and commercial cane sugar (CCS), representing the sugar content of cane, and regulate sugar volume in production and consumption.

Source: VietNamNet News May 25, 2017 08:03 UTC