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News
Thailand lowers sugar export volume, sets aside extra for ethanol production
Date:
15 May 2018
Source:
Agriculture.com
Reporter:
Reuters
News ID:
30140
Pdf:
Nlink:
BANGKOK, May 15 (Reuters) - Thailand has allocated an
additional 300,000 tonnes of raw sugar for ethanol production
this year, the country's cane and sugar regulator said on
Tuesday, amid weak prices and a large global surplus of the
commodity.
Thailand, the world's second-largest sugar exporter after
Brazil, expects at least 14 million tonnes of sugar from a
record 134 million tonnes of cane in the 2017/18 production
year, boosted by favorable weather conditions.
The additional quantity is apart from 200,000 tonnes of raw
sugar, which the country has already set aside for biofuel
production every year.
"Prices of raw sugar have decreased, while prices of
tapioca, which is traditionally used to produce ethanol, have
increased," Ekapat Wangsuwan, deputy secretary-general, Office
of Cane and Sugar Board, told Reuters.
"So producers are turning to more raw sugar for ethanol
production."
Thailand consumes about 2.6 million tonnes of sugar
domestically and exports the rest.
Wangsuwan said taking away 300,000 tonnes from the quantity
available for exports will help improve sugar prices.
"A lower export volume will create a psychological effect
and increase sugar prices," he said.
(Reporting by Panarat Thepgumpanat; Writing by Patpicha
Tanakasempipat, Editing by Sherry Jacob-Phillips)
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