January 31, 2020 / 10:59 AM / 17 days ago

Thailand's sugar output to hit 9-yr low due to drought - trade

PUNE, India Jan 31 (Reuters) - Thailand’s sugar production in 2019-20 is likely to fall 28% to 10.5 million tonnes from a year earlier, the lowest in nine years, as drought curtailed cane production, head of a leading trade body said on Friday.

The lower production will limit exports from the world’s second biggest exporter and support prices trading near their highest level in 2-1/2 years.

Thailand could export 6 million to 7 million tonnes of sugar in the current year, down from 11 million tonnes a year ago, Rangsit Hiangrat, director general at Thai Sugar Millers Corporation, told Reuters. (Reporting by Rajendra Jadhav; Editing by Arun Koyyur)

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