Myanmar has reached an agreement with Viet Nam to export 50,000 tonnes of sugar in the upcoming season under an advanced purchase system, according to the Myanmar Sugar and Cane Related Products Association.
The sugar export to Viet Nam is scheduled for January and February. The FOB prices are estimated at US$600 per tonne.
The prices hit K2,500 per viss at maximum in the domestic markets. Beyond self-sufficiency, new sugar mills will emerge and production is likely to increase more than in previous years. Myanmar bagged over $66 million from sugar and related products exported in 2021.
There are about 30 sugar mills across the country and two new ones each in northern Shan State and Sagaing Region will be established soon.
The local sugar mills offer K90,000 per tonne of sugarcane, which soared from K60,000 in 2020. Sugar fetched only K1,500 per viss then. —TWA/EMM
Myanmar to export 50,000 tonnes of sugar to Viet Nam in upcoming season
- December 22, 2022
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