Mitr Phol Group, one of the largest sugar producers in Asia has urged the Thailand government to hike the sugar prices due to the rising cost of cane cultivation and production of sugar, reports The National Thailand.
Buntoeng Vongkusolkit, chairman of Mitr Phol Group said, the reduction in the supply of sugar by India has resulted in a recent hike in the prices in the global market. India’s decision to lower sugar exports won’t affect Thai supply and exports.
However, he raised the concern over the rising cost of sugarcane cultivation and production of sugar. “We along with the Sugarcane Farmers Association have urged the Office of the Cane and Sugar Board several times to raise the issue with the government to increase the prices. Sugar price is controlled by the government and we hope that they will take a positive decision regarding this,” he further added.
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