Vietnam Sugar Market – Government support keeps domestic sugar prices high
• As of August 2024, the global raw sugar price reached USD0.41/kg (-23.2% YoY), and is unlikely to resume its upward trend in 2024 due to a more balanced global supply-demand situation. This is largely attributed to the recovery of sugarcane production in Brazil, the world's largest sugar producer and exporter, during the 2023-24 crop season.• Vietnam, a major sugar importer, has implemented several protective policies for its domestic sugar industry. Combined with an estimated 5% YoY increase in demand this year, these measures have kept domestic sugar prices high. As of August 2024, An Khe sugar factory's price stood at VND 20,000/kg (-3.8% YoY). With continued government support, we expect domestic sugar prices to remain relatively stable for the remainder of 2024 compared to the closing price in August.
• We note the correlation between domestic sugar price movements and the stock prices of sugar companies such as QNS is 92%. Therefore, we recommend investors monitor domestic sugar price fluctuations closely to make decisions regarding their short term and long term investments in sugar industry stocks.
Viet Dragon Securities belongs to top 20 biggest securities companies in terms of chartered capital in Vietnam. With a qualified, dedicated and professional team, a widespread network, advanced technology, diversified products and services, and good relationship with local and foreign institutions, we provide a wide range of services and products to our clients both individuals and institutions, both local and foreign. We commit to provide our clients with promising investment opportunities and a comprehensive and professional financial investment services.
RongViet Research reports are diversified and abundant, along with in-depth analysis and performed by experienced, highly-qualified and knowledgeable teams. With the objectives of transparency, accurate and timely manner, RongViet believes that our products would always be important sources of information for customers/investors’ investment decisions.”
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.