News International Sugar Journal

Thailand – Millers revenues fall amidst strong baht and low sugar prices [Registered]

Sugar millers in Thailand are having to shoulder falling revenues on the back of strengthening baht and low sugar prices, reports Bloomberg. Recent Ministry of Commerce data indicate that export revenue from sugar fell 34% to 7.97 billion baht ($270 million) in March from a year earlier while shipments dropped 24%. The baht climbed to 28.56 to the dollar on April 19, the strongest level since the devaluation in July 1997. “Our export income has fallen by around 10 percent from the beginning of the year as the local currency climbed,” said Piromsak Sasunee, chief executive officer of Thai Sugar…

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