Vietnam Likely to Face Sugar Shortage in 2006
Vietnam is likely to face a shortfall of about 200,000-250,000 tons of sugar in 2006, predicted Vietnam Sugar Association (VSA) President Le Van Tam at a meeting in Hanoi on January 12.
The meeting was opened to review sugar production and consumption in the 2005-2006 period.
According to experts, local demand for sugar is at 1.2-1.3 million tons per year while the 2005-2006 sugar crop's output will not exceed one million tons as a result of bad weather conditions in many provinces.
Addressing the meeting, Tam estimated that the price of sugar in the world market is likely to continue to increase in the first quarter of this year due to worldwide shortages, which will affect the local market.
At the meeting, the association worked out measures to address the problem, focusing on promotion of sugar production and import.
The association will also work to further boost sugar-cane growth, in terms of area under cultivation, productivity and quality, for the 2006-2007 sugar crop, with the aim of meeting local demand and stabilizing the market.
Additionally, it pointed to the need for sugar enterprises to work closely with relevant agencies to deal with sugar cane-cultivation area programming, infrastructure and irrigation.
The association will also submit development plans for the 2006-2010 period and 2020 to the Government and the Ministry of Agriculture and Rural Development.
These plans include the expansion of sugar companies and the establishment of new ones so as to increase the sector's competitive capacity in the integration processes into the ASEAN Free Trade Area and the World Trade Organization.
Vietnam & World Economy
Vietnamese
