Thailand to stop sugar subsidy by year-end

Thailand to stop sugar subsidy by year-end

The government will stop subsidising sugar production and drop domestic control of consumer prices for sugar by the end of the year, a Ministry of Agriculture official said on Tuesday.

Brazil challenged Thailand at the World Trade Organization (WTO) in March last year, arguing that Thailand's subsidies for sugar producers have dragged down global prices.

"Our new policy will be to let the price of sugar match that of the global markets whereas before it was under the control of the Ministry of Agriculture," Buntin Kotesiri, administrative director at the Sugar and Cane Producing Board, told Reuters.

"We expect these changes to come into effect at the end of the year during harvesting season."

Mr Butin said the move was in response to Brazil's challenge.

Thailand is the world's second largest sugar producer after Brazil. Brazil said in November that it had seen the proposal for changes in Thai policies and said that it was an acceptable solution.

Do you like the content of this article?
COMMENT

Monster cyclone batters Covid-stricken India's west coast

MAHUVA, India: A monster cyclone was lashing India Tuesday, with powerful winds and driving rain leaving at least 20 people dead, and interrupting the vaccine programme the country urgently needs to get its spiralling Covid-19 outbreak under control.

10:45

'Chemsex' fears grow as Covid shuts Thailand's LGBT+ bars

Beam, a gay sex worker, used to go to a "chemsex" party about once a month before the coronavirus pandemic shut Thailand's bars and clubs. But since then, the drug-fuelled gatherings have become much more frequent.

10:28

Record 35 deaths, 2,473 new Covid cases

The government on Tuesday reported the highest-yet daily Covid-19 related death toll, 35 fatalities, for an accumulated toll of 649, and 2,473 new cases, raising the total to 113,555 since the pandemic started early last year.

10:10