Thai sugarcane farmers may not benefit from higher global sugar prices as their production costs, including fertilisers and oil, are also on the rise amid the Russia-Ukraine war.
Sugar prices on the world market have increased as Brazil, the world’s largest sugar producer, is using more sugarcane as a feedstock for ethanol manufacturing, said Narathip Anantasuk, head of both the National Federation of Sugarcane Planters and the Office of Sugarcane Planter Association Zone 7.
“Earlier this year, the global sugar price stood at 18 cents a pound. It has already risen to 20.31 cents a pound,” he said.
Brazil, also the…
