NASU Sugarcane Company Limited increased sugarcane price to a record 980,000 VND/ton

(Baonghean.vn) - Nghe An Sugarcane Company (NASU) suddenly increased the price of sugarcane to an unprecedented record, reaching 980,000 tons in the field.

Bringing modern machinery into sugarcane production. Photo by Duc Anh - Dai Nghia Dan.

According to the company's leader, as of January 7, 2017, NASU has pressed more than 200,000 tons of sugarcane. After considering a number of factors: The quality of sugarcane imported by farmers to the factory is good, the sugarcane is clean, the sugar content is high; the sugar price on the market remains stable.

In order to improve farmers' income and encourage farmers to invest in new planting and replanting to develop sugarcane material areas, Nghe An Sugarcane Company decided to increase sugarcane prices by 60,000 VND/ton, bringing the basic sugarcane price to 980,000 VND/ton in the field and the average sugarcane price at the factory to 1,053,000 VND/ton.

This is the highest sugarcane price in the past 5 years. This sugarcane price has been applied since the beginning of the 2016/2017 crushing season, which means that all sugarcane imported to the factory from the beginning of the season until now will be entitled to this price increase. NASU will pay an additional 12 billion 600 million VND to farmers who have imported sugarcane to the factory.

NASU continues to maintain the policy of sugar content bonus of 60,000 VND/1 CCS increase. Reduce the low sugar content deduction to 30,000 VND/1 CCS and only apply to sugarcane shipments lower than 9 CCS. This will encourage farmers to apply new sugarcane varieties and invest in intensive cultivation to have high-yield, high-quality sugarcane products to increase income.

Large model field in Nghia Phu commune, Nghia Dan district. Photo: Duc Anh - Dai Nghia Dan.

NASU also insures the minimum sugarcane purchase price for farmers at VND820,000/ton for all sugarcane shipments with lower quality than regulations to still ensure income for sugarcane growers.

In addition, NASU will continue to consider price adjustments if there is a significant increase in sugar market prices and if there is a price increase, it will also apply to all sugarcane imported to the factory to ensure fairness for all sugarcane farmers.

NASU hopes to continue receiving support from all levels of government and long-term, loyal cooperation from farmers with NASU for the common development of businesses, communities and society./.

Chau Lan