AEC allows Thailand to supply more sugar to ASEAN

BANGKOK, May 9 (TNA) - The Thai Ministry of Industry's Office of the Cane and Sugar Board (OCSB) says that the establishment of the ASEAN Economic Community (AEC) by 2015 will be a good opportunity for Thailand to export more sugar to other member countries of the Association of Southeast Asian Nations (ASEAN) and the 10-member bloc's dialogue partners, namely China, thanks to the elimination of trade barriers in the region. OCSB Secretary-General Prasert Tapaneeyangkul acknowledged that after AEC is formed, Thailand, as the ASEAN's largest sugar cane production base and the world’s second largest sugar producer, will be able to supply more sugar to the ASEAN free trade market. Prasert suggested that Thai sugar exporters should also secure the immense Chinese market, where demand for sugar remains high, noting that demand for sugar in China has greatly exceeded supply by half. Prasert acknowledged that Japan and Indonesia are also key markets for Thai sugar exports, cautioning, however, that Brazil and Australia are major rivals for Thai sugar exporters. The OCSB chief projected that Thailand's total sugar cane output will likely reach 98 million tons this year and the country's sugar produce will likely total 10.2 million tons, a historic high-record. (TNA)