Thailand suffers 59 million USD in loss from China's sugar syrup import ban
Todsaporn Ruangpattananont, President of the Thai Sugar Product Association, said the loss to Thai companies was double the previous estimate, due to shipping and transport costs, fines at Chinese ports, and lower selling prices.
Thailand, the world’s second-largest sugar exporter, faces a suspension of syrup and premixed powder imports by China in December due to concerns about factory hygiene. (Photo: Reuters)
Bangkok (VNA) - Thai businesses recorded up to 2 billion THB (over 59 million USD) in losses from China's ban on sugar syrup and premixed powder exports from the Southeast Asian nation, according to the Thai Sugar Product Association.
Todsaporn Ruangpattananont, President of the Thai Sugar Product Association, said the loss to Thai companies was double the previous estimate, due to shipping and transport costs, fines at Chinese ports, and lower selling prices.
No factories are purchasing raw sugar, and operations have been halted for over two months, he said.
In December 2024, China suspended imports of sugar syrup and premixed powder from Thailand due to hygiene concerns at manufacturing plants.
Last month, Thai officials said China had asked the Southeast Asian country to inspect dozens of factories before starting negotiations to lift the ban.
About 40,000 tonnes of syrup and premixed powder shipped to Chinese ports had been returned to Thailand, said Todsaporn.
Thammasorn Nawilaijaroen, a senior executive at SMC Food Thailand and Hefty Food Thailand, which exports syrup and premixed power to China and Japan, said both his companies had been hit by losses of around 100 million baht because of the ban.
𒈔 Hefty Food, which exports syrup solely to China and shipped 120,000 tonnes last year, has stopped production, he added./.
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