Vietnam Sugar Standard Report Q2/2019

Vietnam Sugar Standard Report Q2/2019

  • January 2020 •
  • 67 pages •
  • Report ID: 5841151 •
  • Format: PDF
VIETNAM SUGAR INDUSTRY
According to USDA forecast, the world sugar volume in the crop 2018/2019 will decrease by 4 million tons compared to the previous forecast; however, it will be still at high level, rising by x% compared to the crop 2017/2018.
The world sugar consumption has been increasing for years. The average sugar consumption per person has increased continuously from x kg/person in 2012 to x kg/person in 2018 with a CAGR of x% in the whole period.
Compared to the world sugar industry, Vietnam stands the xth position in sugar growing area and volume. The sugar production volume fluctuated quite closely to the fluctuation of the sugar cane production. When the sugar cane volume increases, the sugar supply tends to increase because after being harvested, sugar cane must be put into production of finished products and be warehoused or it will be damaged and can not last long. According to Vietnam sugar cane association, in the end of season 2018/2019, the sugar volume in Vietnam is forecasted to decrease by x% compared to the crop 2017/2018.
The sugar consumption volume in crop 2017/2018 increased by x% compared to the previous crop. Although it has risen pretty dramatically, the sugar consumption of Vietnamese people is still low compared to other countries in the region and the world average level.
Vietnam’s sugar price correlates quite closely with the world sugar price because Vietnam often has to import sugar, but the sugar price is different among domestic regions. In the first 9 months of 2019 in the crop 2018/2019, Vietnam sugar price went on a downward tendency and still maintained low level due to the effects of the price tendency of the world market.