There will be a global sugar deficit of about 2.5 million tonnes in 2019-20, and prices are expected to harden, the fourth meeting of the ASEAN Sugar Alliance heard in HCM City yesterday.
Sugar company shares have underperformed in the last three months, contrasting with the general uptrend of the stock market and other sectors, thanks to large stockpiles and falling sugar prices.
Authorities'' efforts to crack down on contraband and a simultaneous rise
in demand have sent sugar prices soaring by 10 per cent in the three
weeks since Tet.