​According to the Vietnam Sugar Association, information from the General Department of Customs shows that, in the first nine months of 2021, Vietnam spent $611 million to import 1,318,330 tons of sugar, 30% higher than the same period last year. 2020 and nearly doubled the sugar produced from domestic sugarcane in the 2020/21 crop year (689,830 tons).

The source of imported sugar increased sharply, while the demand for sugar for direct consumption and production decreased due to the impact of the Covid-19 epidemic and the rainy weather, leading to a decrease in sugar prices in October compared to the previous month. 9.

The supply of sugar in the Vietnamese market currently comes from official imports, smuggled sugar across the Southwest border, the amount of sugar imported under the tariff quota of 97,000 tons of sugar in 2021, in addition, the end of November will start producing sugar. sugar from the 2021/22 pressing.

Thus, the supply of sugar is abundant and there will be no shortage in November 2021 and the following months. The market advantage still belongs to imported sugars and the domestic sugar price will fluctuate in line with the world sugar price.

Due to the fact that the world sugar price is at the highest level in the last 4 years and international transportation costs are also very high, the domestic sugar price will be close to the sugar price in the region. However, it is still lower than the price of imported Thai sugar with anti-dumping and anti-subsidy taxes.