The Office of the Cane and Sugar Board (OCSB) issued a new factory price of sugar before VAT, to be effective from Saturday (October 28). Under the adjustment, the price of white sugar will rise from 19 baht to 23 baht per kilogram, while refined white sugar will cost 24 baht per kg, up from 20 baht per kg.
These new prices will be used to calculate the buying price of sugarcane for the crop of 2023/2024, which starts in December, the source said.
Without this adjustment, sugarcane farmers would not benefit from the price difference of sugar in domestic and global markets in next year’s harvest, the source added.
The price hike also ensures that factories will continue selling to domestic buyers instead of exporting their products to overseas markets, which offer better prices, it added.
Thailand runs a free market for sugar, allowing manufacturers to sell to anyone who offers…
