The Office of the Cane and Sugar Board (OCSB) has introduced new factory prices for sugar, excluding VAT, effective from October 28. This adjustment brings about significant changes in sugar pricing, aiming to benefit both sugarcane farmers and the domestic market, reported Nation Thailand.
Under these revised rates, the price of white sugar will see an increase from 19 baht to 23 baht per kilogram, while refined white sugar will now be priced at 24 baht per kilogram, up from its previous rate of 20 baht per kilogram.
These updated prices are important in calculating the purchasing price of sugarcane for the upcoming crop season in 2023/2024, set to commence in December.
Moreover, this price hike is strategically designed to ensure that factories continue to supply their products to domestic buyers, rather than opting for overseas markets, where more attractive prices may be offered.
