Vietnam sugar prices to surge towards year-end

Sweet deal: A small boat sails near a container ship at a port in Ho Chi Minh City. Vietnamese sugar producers have been advised to capitalise on high prices to strengthen domestic sugarcane production and rely less on imports. — AFP

HANOI: Sugar could become more expensive during the remaining months of 2023, according to the Vietnam Sugarcane and Sugar Association.

Data from the Vietnam Commodity Exchange showed global sugar prices had reached US$161 per tonne in nearly November, a 150% increase compared to the beginning of the year, marking the highest price in the last 12 years.