Sugar stocks on the rise thank to global rising prices Since early this year, Son La Sugar JSC (SLS) stocks rose 48 per cent, Kon Tum Sugar Joint Stock Company (KTS) has increased by 34 per cent, Lam Son Sugar JSC (LSS) has gained by 32 per cent and Thanh Thanh Cong – Bien Hoa JSC has climbed 19 per cent. In the 2018-2019 crop year, SLS produced 625,892 tonnes of sugarcane. The company currently owns 7,800 hectares, equivalent to 3.3 per cent of the country’s sugarcane material area, ensuring stable raw materials. As for KTS, the company mainly purchases raw materials from farmers so it has to face price fluctuations. In the past year, KTS itself produced more than 80,600 tonnes of sugarcane, purchasing more than 60,600 tonnes from outside. As of December 31, 2019, KTS has a total asset of VND317 billion, of which construction costs for unfinished projects were VND202.6 billion, accounting for 64 per cent of total assets. Up to 70 per cent of the raw material area of LSS is small, fragmented land on hills, which is difficult to apply synchronous mechanisation, leading to low efficient cultivation and instability of raw materials provision. LSS’s profits… Read full this story
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