Thailand has been hit with what may be its worst drought in 40 years, pummelling sugar production in one of the world’s biggest exporters of the sweetener.
Sugar output may tumble about 30% to 9 million-10 million tonnes, while cane output is forecast to fall below 90 million tonnes from about 130 million in the previous season because of the dry weather, according to an industry body.
“It’s worse than we thought,” Sirivuthi Siamphakdee, vice-chairman of Thai Sugar Millers Corp, said yesterday. “This will likely be our worst season in five years.”
Bangkok Post and Bloomberg