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ASEAN meeting reports on global sugar deficit and opportunities for SE Asian countries

The Thaiger

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ASEAN meeting reports on global sugar deficit and opportunities for SE Asian countries | The Thaiger

The ASEAN Sugar Alliance says there will be a global sugar deficit of about 2.5 million tonnes in 2019-20, and prices are expected to firm following a number of years of falling prices and surplus stocks.

The prediction was reported at the fourth meeting of the ASEAN Sugar Alliance in Ho Chi Minh City yesterday.

Market analyst, futures trading and risk manager at Thailand’s MITR Phol Sugar Corp, Sasathorn Sanguandeekul, says that a deficit would occur this year mostly due to a reduction in output in major sugar producing countries, including Thailand.

“In 2019-20 with the expectation of reduction in Thailand and India, Asia should have a deficit of around 9.5 million tonnes.”

Output in Brazil, the world’s largest sugar producer and exporter, in 2018-19 “decreased to 26.5 million tonnes due to ageing canes and drought. While sugar production in 2019-20 is forecast to be around 26-28 million tonnes”.

He also noted that Brazil is still maximising ethanol production, reducing sugar output.

Meanwhile, China’s production is expected to be 11.63 million tonnes in 2018-19 and around 11.2 million tonnes in 2019-20, less than its demand. China will likely have to import around 4.5 million tonnes.

Indonesia is another deficit market. In 2018-19, it is expected to produce around 2.37 million tonnes while consumption is expected to increase to 7.11 million tonnes.

Thailand’s production will be around 14.6 million tonnes in 2018-19 and in 2019-20, due to the drought and farmers switching to other crops, its production is pegged at around 13 million tonnes.

According to industry experts, after years of surpluses in the world market, the likelihood of a deficit in 2019-20 will be an opportunity for sugar companies, including TTC Sugar.

“Sugar prices will trade back in the range of 12-13.5 cents per pound in the short run. In the long run, we estimate the range can rise to 12.5-14.5 cent due to the deficit,” said Sasathorn.

Organised by the ASEAN Sugar Alliance and TTC Group, the meeting also discussed regional trade agreements, sugar and health issues, ethanol market development, among other topics.

SOURCE: Vietnam News

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ASEAN

Bangkok and Nonthaburi to get 2 extra holidays during ASEAN summit

May Taylor

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Bangkok and Nonthaburi to get 2 extra holidays during ASEAN summit | The Thaiger

November 4 and 5 have been approved as official holidays for Bangkok and Nonthaburi as a result of the 35th Asean Summit and Related Summits being held at Impact Arena Muang Thong Thani in Bangkok.

Deputy government spokeswoman Traisulee Traisoranakul confirmed yesterday that the measure was being taken in an effort to alleviate traffic problems in both areas during the summit, adding that other state enterprises and the Bank of Thailand could implement the holidays for their subsidiaries at their own discretion and on a case-by-case basis.

“Government agencies in Bangkok and Nonthaburi will stop working on these dates. Meanwhile, state enterprises and the Bank of Thailand will consider announcing November 4 and 5 as holidays for their subsidiaries on case-by-case basis.”

“However, government agencies which have a necessity to provide urgent or previously scheduled services to their clients that cannot be postponed may stay open on November 4 and 5, depending on the decision by the heads of these departments.”

Some other public or regional holidays coming up…

Bangkok and Nonthaburi to get 2 extra holidays during ASEAN summit | News by The Thaiger

SOURCE: The Nation

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Two more Thai marine parks declared ASEAN heritage parks

The Thaiger

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Two more Thai marine parks declared ASEAN heritage parks | The Thaiger

PHOTO: bluestars.info

“The two marine parks are Thailand’s fifth and sixth to be given the status of ASEAN heritage parks.”

Two southern Thailand national parks have been recognised as ASEAN heritage parks at this week’s 15th ASEAN environment ministers’ meeting in Siem Reap, Cambodia, the home of Angkor Wat. Warawut Silpa-archa, Thailand’s Minister of Natural Resources and Environment, told reporters the ASEAN environment ministers voted unanimously to designate Haad Chao Mai-Koh Libong No-hunting Zone and Ang Thong marine parks as the 45th and 46th ASEAN heritage parks.

Ang Thong Marine Park, west of Koh Samui in the Gulf of Thailand, is made up of 42 islands rich in natural diversity, with a rare orchid, the Venus slipper, only available in the park. It is also the feeding ground for Bryde or Bruda whales, bottlenose dolphins and green turtles.

Haad Chao Mai-Koh Libong No-hunting Zone Marine Park, off Trang province, is rich in sea grass and corals and is the feeding ground of dugongs.

The two marine parks are Thailand’s fifth and sixth to be given the status of ASEAN heritage parks after Khao Yai National Park, Tarutao, Surin-Similan-Similan-Phang-nga Bay marine parks and the Kaeng Krachan forest complex in Kanchanaburi province.

To qualify as ASEAN heritage parks, they must meet certain criteria, such as ecological richness, natural characteristics, regional representation, high conservation importance, proper management, cross-boundary characteristics and connectivity between cultures and the ecological system and natural diversity.

Two more Thai marine parks declared ASEAN heritage parks | News by The Thaiger Two more Thai marine parks declared ASEAN heritage parks | News by The Thaiger

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Prayut heading to New York for six day trip, including attending UN

The Thaiger & The Nation

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Prayut heading to New York for six day trip, including attending UN | The Thaiger

Thai PM General Prayut Chan-o-cha and his entourage is leaving for New York to attend the 74th United Nations General Assembly tomorrow.

But the PM isn’t travelling alone. The six day trip to the US will also be made by Foreign Minister Don Pramudwinai and Natural Resources and Environment Minister Varawut Silpa-archa (and half a plane of ‘others’).

According to a schedule released to the media, Prayut will also attend two meetings in his capacity as this year’s chairman of ASEAN to represent ASEAN and Thailand’s roles in the international arena.

He will attend a high-level meeting on Universal Health Coverage to show Thailand’s strong leadership with its national health scheme. The PM will also emphasise Thailand’s push to put universal healthcare on the world agenda.

Prayut will also attend the UN Climate Action summit and the Sustainable Development Goal summit. He is expected to say that ASEAN will accelerate development of the region and emphasise the role of local people as the centre of development projects based on the “sufficiency economy” philosophy, and that ASEAN would cooperate with the US and other nations in implementing development projects.

The Thai PM will assure the Asia Society that Thailand would cooperate with various countries on security, economic, social and environment projects, while the Kingdom also prepared to transform itself into an aged society and to develop smart cities and get its human resources ready for digital disruption.

During the meeting with the USABC, the PM will emphasise the strong points of the Eastern Economic Corridor project.

During the trip, Prayut will also meet and hold bilateral discussions with several foreign leaders, including Australian PM Scott Morrison, UN Secretary General António Guterres, as well as Tijjane Muhammad Bande, the chair of the 74th UN General Assembly.

On Tuesday, Prayut will attend a 9am banquette host by the UN secretary general for national leaders and their spouses. In the afternoon, he will attend the SDG Summit, as well as an evening banquette held by the US president and first lady for foreign leaders and spouses.

On Wednesday, Prayut will deliver a speech to the Asia Society at noon and attend a dinner meeting with executives of the USABC at night. The PM and his entourage are scheduled to fly from New York at noon on Thursday, landing at Suvarnabhumi Airport at 9.55pm on Friday.

SOURCE: The Nation

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