Vietnam to buy 10,000 tonnes of sugar from Myanmar

By Admin 14 Sep 2023

DMG Newsroom
14 September 2023, Yangon
 
Vietnam has expressed interest in buying 10,000 tonnes of sugar from Myanmar, according to an official from the Myanmar Sugar & Cane Related Products Association.
 
Vietnam has offered to buy sugar, but after considering whether there is enough for domestic consumption, Myanmar will export sugar based on the yield, said U Win Htay, chairman of the association.
 
“Vietnam is Myanmar’s sugar customer. This year, Vietnam sent a letter to buy sugar from Myanmar. We haven’t replied to Vietnam yet because it’s not sugarcane harvest time yet. We will look at the sugarcane yield in November and negotiate the price,” he added.
 
Myanmar produces more than 400,000 tonnes of sugar per year, and domestic consumption is more than 300,000 tonnes per year.
 
Myanmar sugar is exported to Vietnam as well as the Philippines and China.
 
In the foreign market, one tonne of sugar sells for US$700. Compared to last year, the price of sugar has increased by almost $200 this year, according to entrepreneurs.
 
This year, farmers have had a difficult time during the sugarcane planting season due to climate change, high agricultural input costs and transportation charges, but they are hoping for good prices.
 
“Price per tonne of sugarcane is set at K110,000. We will be OK if we fetch K130,000 for one tonne of sugarcane,” said a sugarcane farmer in northern Shan State.
 
There are about 500,000 acres of sugarcane in Myanmar. Sugarcane is mainly grown in Bago Region, Shan State, upper Sagaing Region, and Mandalay and Yangon regions.