Announcing an increase in sugar prices by 4 baht per kilogram effective October 28, 2023.

Thebangkokinsight reported that the Office of the Cane and Sugar Council (OCS.) issued an announcement regarding the price of sugar within the Kingdom for use in calculating sugarcane prices and returns on sugar production and sales. For the 2023/24 production season, VAT excluded. Signed by Mr. Reit Wisetsin, Deputy Secretary General of the Sugarcane Council (AGN) and Acting Secretary General of the AGN.

Announcing a price increase effective October 28, 2023, by setting the price of sugar in the new factory as follows:

1. White sugar has changed from 19 baht per kilogram to 23 baht per kilogram.
2. The price of refined white sugar changed from 20 baht per kilogram to 24 baht per kilogram.

Lieutenant Colonel Chakra Yudmani, Deputy Director General of the Department of Domestic Trade Referring to the case in which the Office of the Sugar Cane and Sugar Board (Sorn) considered increasing the factory sugar price to 4 baht per kilogram, the Department of Domestic Trade had already written a letter to Sorn, as the regulator of sugar products .

It was seen that the rise in sugar prices should not use the price of sugar in the world market as a reason. Which is currently 26.50 baht per kilogram because Thailand is a major producer and exporter of sugar. It produces about 10 million tons annually, which is consumed locally. Industrial and domestic use: 2.5 million tons, and the remaining 7.5 million tons for export.

Therefore, the impact on consumers must be taken into account. And related effects if the price is increased Currently, the factory price announced on January 19, 2023 remains at 19-20 baht per kilogram.

In this regard, two issues were proposed:

1. It should not quote the global sugar price. Although the global sugar price is higher than Thailand and is 26.50 baht per kilogram. But with Thailand being a source of production and export, the volume of production each year reaches 10 million tons.
2. Adjusting the price to 4 pounds per kilogram, allocating interest of 2 baht per kilogram. Enter the sugarcane industry, divided between farmers and factories and another 2 baht per kilogram. Sent to the sugar cane and sugar fund to take care of the environment and PM2.5 dust, this part will pass the burden on to consumers. I would suggest that it would be more appropriate to ask the government for budget support to resolve this issue. This would increase the burden on people who would consume more sugar.

But we do not want all parties to bet on the situation to exploit the opportunity to exaggerate prices and monopolize products. We will send officials for continuous inspection. Protection from opportunities for price increases, which is punishable by imprisonment for 7 years, a fine not exceeding 140,000 baht, or both.