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More Sugar Allocated To Ease Shortages

08 September 2010

THAILAND –As many as 28,000 tonnes of sugar are expected to be allocated across the Asian nation of Thailand from Friday September 10th, in a bid to help ease shortages on the sweetener's domestic market.

The Bangkok Post reported that the country's Industry Ministry had launched attempts in July to shore up local supplies by purchasing back almost 75,000 tonnes of export sugar from three traders.

Witoon Simachokdee, the organisation's permanent secretary, told the news provider that the scheme's slow progress so far had been largely the result of tax-related complexities.

"The delay in distribution was due to the fact that nobody knew that we would have to pay twice the amount of taxes - from sugar mills to traders and from traders to the Cane and Sugar Fund," he explained.

Meanwhile, authorities in the Philippines are currently aiming to produce at least 500,000 tonnes of additional rice to narrow the country's shortfall in output.
 

TheCropSite News Desk

Market Reports, Sugar (Cane & Beet)

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