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.
The Ministry of Planning and Investment has proposed export tax cuts on cement while local producers are struggling with high stockpiles as supply has exceeded demand in the domestic market.
Thailand''s plan to accelerate sales of 11.4 million tonnes of rice in
stockpiles within two months sparked concerns that it would hurt prices
as well as Viet Nam''s rice exports. However, some people were optimistic
that the impact would not be significant.
The Ministry of Industry and Trade (MoIT) is considering giving
permission to export unsold stockpiles of sugar, according to Tran Thanh
Hai, deputy director of the Import-Export Department, at the ministrys
press conference yesterday.
