Sugar producer Mitr Phol urges Thai government to hike price as costs soar

BANGKOK (The Nation/Asia News Network): Mitr Phol Group, Asia's largest sugar producer, wants Thailand's Commerce Ministry to be open to discussing the raising of sugar prices as the cost of the cultivation and production has surged by 40 per cent.

Speaking to the media during a tour around his factory in Suphan Buri province, Buntoeng Vongkusolkit, chairman of Mitr Phol Group, said the current surge in global prices of sugar was due to a reduction in supply after India, the world's largest sugar producer and second-largest exporter after Brazil, decided to curb its sugar export.