TSMC seeks ministry's assistanceThe Thai Sugar Millers Corporation (TSMC) plans to ask the Industry Ministry to help Thai sugar millers pressure the Indian government as its price and export subsidies are suspected of affecting sugar prices in the world market. Thai sugar exports have been affected by price fluctuations due to the subsidies, which violates World Trade Organization rules, said TSMC. "TSMC believes subsidies for sugar prices cost the Thai sugar industry around 10 billion baht a year," he said. Australia claims the controversial subsidies have led to a surplus of sugar supply and India's exports have also decreased global sugar prices. Mr Pramode expects sugarcane output in the 2021-22 crop year to be only 90 million tonnes because drought continues to affect sugar farming.

Source: Bangkok Post July 29, 2021 21:00 UTC