In March 2025, the domestic sugar price level remained relatively stable. In the Central and Central Highlands regions, sugar mill prices hovered around 19,300 VND/kg. In the retail market, trading activities were limited, and product release was slow due to sluggish consumption demand. Commercial RS sugar prices were stable, offered around 19,400–19,700 VND/kg, depending on the type and location in Central Vietnam.
In the Southern and Central Highlands regions, sugar trading also remained slow. Small-scale traders purchased limited quantities due to concerns over potential price declines. RS sugar prices fluctuated around 19,300–19,500 VND/kg, depending on transaction volume.
Golden Sugar and RE Sugar were offered in small quantities on the market, with prices remaining stable. An Khe Golden Sugar was offered at around 19,400–19,450 VND/kg in the Central region and 19,800 VND/kg in Saigon. An Khe RE Sugar maintained a price of 20,000 VND/kg in the Central region and 20,400 VND/kg in Saigon.

Supply and Demand
At the end of February and during the first week of March 2025, the global sugar market showed a downward trend. The expiration of March crude sugar contracts significantly impacted the market. Delivery volumes on the exchange reached a record high for the March contract, exceeding 1.7 million tons. Such strong deliveries indicated weak demand, forcing holders to liquidate inventory.
In the first half of March 2025, domestic sugar trading was subdued, consumption demand continued to slow down with no signs of recovery, while the supply of various sugars remained abundant, making it difficult for traders to move their products.

During the 2024/25 sugarcane season, mills had purchased about 70% of the farmers' sugarcane output in East Gia Lai, at an average price of 1.3 million VND per ton of raw sugarcane. In East Gia Lai, the raw sugarcane area under An Khe Sugar Mill covers nearly 32,000 hectares — the largest sugarcane field in the country. On average, farmers in the area harvest about 80 tons of sugarcane per hectare.
In the South Central region, sugarcane growers are also very optimistic. In Phu Yen province, there are currently three sugar mills operated by two companies: KCP Vietnam Industries Co., Ltd. (100% Indian-owned) and Tuy Hoa Sugar Joint Stock Company.
Meanwhile, in the Southwest region, at the start of the 2024/25 season, some sugar mills signed contracts to purchase sugarcane from farmers and supported them with agricultural supplies until harvest. Thanks to the introduction of new high-yield sugarcane varieties, sugarcane farmers in Tra Vinh are enjoying a good harvest and favorable prices this year.

In Thanh Hoa province, the sugarcane cultivation area for the 2024/25 season reached nearly 13,200 hectares, an increase of more than 600 hectares compared to the previous season. Average yields across all areas were higher year-on-year, with the Viet-Thai region averaging 60 tons/ha and the Lam Son region averaging 80 tons/ha.
As of now, Thanh Hoa province has harvested nearly 11,000 hectares of sugarcane, achieving 75.1% of the planned area. Sugar companies in the province have purchased around 820,000 tons of raw sugarcane for processing.
Currently, Thanh Hoa’s sugar companies are actively coordinating with localities in key raw material regions to accelerate the harvest and purchase of sugarcane according to schedule. At the same time, they are working with local authorities to guide farmers in the technical care of ratoon cane fields and to prepare conditions for planting new sugarcane for the 2025/26 season.

According to the General Department of Customs, the volume of legally imported corn syrup in February 2025 was higher compared to the same period in 2024. Specifically, in February 2024, imports reached 40,334 tons, while February 2025 saw 43,557 tons.
Preliminary figures show that sugar imports into Vietnam from the beginning of the year until the first week of March 2025 reached 228,560 tons. This included 63,680 tons of refined sugar, 79,270 tons of raw sugar, 23,260 tons of glucose, 45,330 tons of fructose syrup, and about 17,020 tons of other sugars.

Forecast and Warnings
Commenting on the market situation for March and April 2025, Mr. Nguyen Van Loc, Chairman of the Vietnam Sugarcane and Sugar Association, stated that weak demand is expected after the Lunar New Year holiday, alongside a trend of shifting sugar consumption towards high-fructose corn syrup (HFCS).
Meanwhile, sugar supply remains abundant, comprising new production from the 2024/25 season and leftover stock from the 2023/24 season.
Vietnam’s sugar market continues to face a surplus, with illegal sugar and imported sugar from ASEAN countries still dominating, making it difficult for domestically produced sugar to find outlets in the coming months.
Storage capacity at sugar mills is already fully occupied.

T.Huong

Source: Vitic