According to VSSA, the total sugar supply reached nearly 1.34 million tonnes in the past seven months, higher than 1.3 million for the whole year of 2023.
Nguyễn Lê Điệp, Director of the Tiến Ngân Trading and Investment Co, said the company plans to ship 300-500 tonnes of sugarcane to South Korea, the UK and the EU this year.
After successfully exporting the first consignment of 20 tonnes of fresh sugarcane to the US in March this year, the province’s agricultural sector has actively worked to seek inroad into international market for local agricultural products.
Speaking at the event, Deputy Chairman of the provincial People’s Committee Đinh Công Sứ said the province would seek ways to boost sugarcane exports, contributing to the development of the sugar industry in the locality.
The Vietnam Sugar and Sugarcane Association (VSSA) has reported that the volume of sugar exported to Viet Nam from Laos has increased sixty-fold since the country imposed an anti-dumping tax on Thai sugar last year.
With large volumes of sugarcane, orange and lemon juices being consumed in hotter weather, fruit prices have been rising for a month or so in HCM City.
Viet Nam has lost over 120,000 hectares of sugarcane 2016-21, a staggering 45 per cent decrease. Meanwhile, productivity has gone down from 64.8 to 61.5 tonnes per hectare during the same period, according to the Vietnam Sugar and Sugarcane Association (VASA).
Provinces that grow sugarcane need to focus on improving added value and prices so that farmers are encouraged to keep growing it to develop Viet Nam’s sugar and sugarcane industry.
The Trade Remedies Authority of Vietnam (TRAV) have warned that Vietnamese products are at risking of falling foul of anti-dumping and trade defence investigations.
While many people believe that sugarcane farmers will face difficulties after Viet Nam implements the ASEAN Trade In Goods Agreement, there are also some who say it could offer bright prospects.
A Taiwanese bubble tea brand, Gong Cha Viet Nam, has announced its plan to replace plastic products with environmentally-friendly materials, in an effort to reduce waste by 60 per cent in the next six months.