Two truck drivers wait to deliver the sugar cane harvest at a sugar mill in Pakchong district in Ratchaburi province, Thailand March 22. Photo by Reuters
Thai businesses could suffer losses of up to 1 billion baht (US$29.5 million) following China’s ban on sugar syrup and premixed powder imports from Thailand, insiders reported.
China suspended imports of syrup and premixed powder from Thailand, the world’s second-largest sugar exporter, in December because of concerns over factory hygiene, with shipments left stranded in Chinese ports.
Thailand was China’s main supplier of liquid sugar last year as it shipped more than 1.2 million tonnes to the country, according to supply chain services company Czarnikow.
Todsaporn Ruangpattananont, President of the Thai Sugar Product Association, said he had written a letter to the Thai government to speed up negotiations with Chinese authorities, given that companies are paying fines every day since the sugar is in Chinese ports.
Rangsit Hiangrat, a director at the Thai Sugar Millers Corporation, affirmed that Thai sugar factories have certified standards and export to the world, adding many are ready for inspections.
