According to a report in the Bangkok Post, the Commerce Ministry expects that the Thai sugar industry will benefit from higher prices on the international market after European sugar mills close as a result of changes to the EU sugar regime.
Go deeper with GlobalData
After a World Trade Organisation decision, the EU ceased subsidising th European sugar industry. At the end of last month, five sugar mills in Ireland, Poland, Germany and Slovakia closed, and 13 out of Italy’s 19 mills are expected to shut down in the near future. It is expected that this will result in a decline in supply, which will push prices up.
Apiradi Tantraporn, the director-general of the Trade Negotiations Department, said that the Thai Government would be monitoring EU sugar policy for the benefit of the Thai sugar industry and urged sugar exporters or millers to inform the department if they had any information that the ministry could pursue with the EU, th Bangkok Post reported.
