Cabinet sets sugar prices; extends incentives for juristic entities

 

 

BANGKOK, 3 May 2018 (NNT) – The Cabinet has agreed on a final sugarcane price and retail price of sugar of the 2016/2017 season, while also extending end-of-year tax incentives to attract individual business operators to become juristic entities. 

The tax incentives originally ended on December 31, 2017, but continued interest among operators who say they missed the initial announcement have persuaded the Cabinet to extend them until December 31 of this year. Individual business operators who go through the process of becoming a juristic entity will have fees involved in transferring assets waived alongside other taxes. 

The Cabinet also approved a final price for sugarcane and the retail price of sugar from nine zones grown during the 2016/2017 season. Sugarcane has been priced at 1,083 baht per ton while sugar will be retailed at 464 baht per ton of sugarcane. The prices are intended to maintain balance in the sugar sector while also strengthening the sugarcane and sugar fund.

The Cabinet later agreed to put 393 million baht from the 2018 expenditure budget towards the Office of the Trade Competition Commission (OTCC), a new agency that needs to establish offices in line with the 2017 Trade Competition Act and protect fair competition.

 

-- nnt 2018-05-03

Not sure if this is the cause, but sugar retail prices have shot up by about 2-3 baht a kilo.

I am sure I read an article a while ago,which said the Government

was floating the price of sugar,looks like another u-turn.

regards worgeordie

2 hours ago, rickudon said:

Not sure if this is the cause, but sugar retail prices have shot up by about 2-3 baht a kilo.

At 464B per tonne, the cost is less than 0.5B per kg. This cannot cause a rise of 2-3B a kilo.

14 hours ago, naboo said:

At 464B per tonne, the cost is less than 0.5B per kg. This cannot cause a rise of 2-3B a kilo.

 

"Sugarcane has been priced at B1,083 baht per ton while sugar will be retailed at 464 baht per ton of sugarcane."

 

There's something wrong with this sentence. The refinery cannot pay 1,083 for a ton of sugarcane and sell the sugar from that

ton of cane for B464. That's my interpretation and it is not possible unless the refineries are subsidized by the govt to the tune of 

B619/ton of cane.