VIETNAM SUGAR INDUSTRY

According to USDA forecast, the world sugar volume in the crop 2018/2019 will decrease by 4 million tons compared to the previous forecast; however, it will be still at high level, rising by 4% compared to the crop 2017/2018. The world sugar consumption has been increasing for years. The average sugar consumption per person has increased continuously from 22,6kg/person in 2012 to 23,46 kg/person in 2018 with a CAGR of 0,75% in the whole period.

Compared to the world sugar industry, Vietnam stands the 14th position in sugar growing area and volume. The sugar production volume fluctuated quite closely to the fluctuation of the sugar cane production. When the sugar cane volume increases, the sugar supply tends to increase because after being harvested, sugar cane must be put into production of finished products and be warehoused or it will be damaged and can not last long. According to Vietnam sugar cane association, in the end of season 2018/2019, the sugar volume in Vietnam is forecasted to decrease by 11,6% compared to the crop 2017/2018.

The sugar consumption volume in crop 2017/2018 increased by 13% compared to the previous crop. Although it has risen pretty dramatically, the sugar consumption of Vietnamese people is still low compared to other countries in the region and the world average level.

Vietnam’s sugar price correlates quite closely with the world sugar price because Vietnam often has to import sugar, but the sugar price is different among domestic regions. In the first 3 months of 2019 in the crop 2018/2019, Vietnam sugar price went on a downward tendency and still maintained low level due to the effects of the price tendency of the world market.

Abbreviations
Summary
1. Business Environment
1.1. Macroeconomic Context
1.2. Legal Framework
1.3. Free Trade Agreements
2. Global sugar industry overview
2.1. Sugar industry overview
2.1.1. Overview of sweetener market
2.1.2. World sugar value chain
2.2. Input Material
2.3. Production Situation
2.4. Consumption
2.5. World sugar supply and demand
2.6. World export and import
2.7. Price
2.8. Sugar market in typical countries
3. Vietnam sugar industry
3.1 History of Vietnam sugar industry
3.2 Characteristics of Vietnam sugar industry
3.3 Producing procedures and technology
3.4 Production Material
3.5 Production
3.6 Consumption
3.7 Export-import
3.8 Inventory
3.9 Price
3.10 Distribution
4. Vietnam sugar industry risks
5. Vietnam sugar industry planning
6. Outlook and forecasts
7. Enterprise Analysis
7.1 Introduction of enterprise
7.2 Financial Analysis
Appendix

Thanh Thanh Cong Bien Hoa JSC
Quang Ngai Sugar JSC
Vietnam Sugar JSC
Lam Son Sugar and Sugarcane JSC
Can Tho sugar and sugarcane JSC
Nghe An Sugar Co.,ltd 
Son Duong sugar and sugarcane JSC
Son La sugar and sugar cane JSC
Sugar Corporation II – Joint Stock Company
La Nga Sugar and Sugarcane JSC

List of figures
Figure 1: GDP growth rate by quarter, 2016 – 2019
Figure 2: Value of agricultural, forestry and fishery production in the first quarter (at constant prices in 2010), 2016 – 2019
Figure 3: Consumer confidence index, Q1 / 2014 – Q4 / 2018
Figure 4: Retail sales of goods, 2010 – Q1 / 2019
Figure 5: Average consumption of sugar per capita in Vietnam, 2010-2018
Figure 6: Total population and population structure in working age, 2010 – 2018
Figure 7: Sugar industry in ASEAN by output, 2018
Figure 8: Market structure of sugar and sweeteners in the world by revenue, 2016
Figure 9: Revenue of sweeteners in the world in 2016
Figure 10: Consumption output of Sweeteners, 2000-2018
Figure 11: HFCS output structure by country, 2018
Figure 12: Market share of artificial sweeteners on the world market, 2017
Figure 13: Structure of the world sugarcane area by country, 2018
Figure 14: World sugarcane area and production, 2011 – 2018
Figure 15: World sugarcane productivity, 2011 – 2018
Figure 16: Structure of world beets by country, 2018
Figure 17: Area and production of world sugar beets, 2010 – 2018
Figure 18: Productivity of sugar beet in the world, 2010 – 2018
Figure 19: World production of sugar by type, year 2005 / 2006-2018 / 2019f (*)
Figure 20: World sugar production structure by type, 2017 / 2018e season
Figure 21: World sugar production structure by country, year 2017/2018
Figure 22: Sugar production volume of major regions in the world, 2016/2017 – 2017 / 2018e
Figure 23: Type of sugar in countries and territories
Figure 24: Production costs of sugar and average monthly wages at  some countries, 2017
Figure 25: Labor cost ratio on total sugar production cost, 2017
Figure 26: Consumption output of world sugar by type, year 2008/2009 -2017/2018e
Figure 27: Average sugar consumption per capita in the world , 2012-2018e
Figure 28: Sugar consumption structure in the world , 2018
Figure 29: Consumption of sugar on a per capita basis by region 2000-2018
Figure 30: Top 10 largest sugar consuming countries in the world, year 2017/2018
Figure 31: Per capita sugar consumption in some major consuming countries,
crop year 2010/2011 and 2017/2018
Figure 32: World sugar supply and demand, crop year 2006/2007-2017/2018
Figure 33: Total sugar supply structure in the world, 2017/2018
Figure 34: World sugar export structure by type, 2017 / 2018e
Figure 35: World sugar export output by type, 2008/2009 –
2017/2018
Figure 36: Top 10 countries exporting sugar in the world, 2017/2018
Figure 37: World sugar import volume by type, 2008/2009 2017 / 2018e
Figure 38: World sugar import structure, 2017/2018
Figure 39: Price movements of raw sugar in New York market and refined sugar prices in London market, 1/2016 – 3/2019
Figure 40: Exchange rate USD / BRL and USD / INR, 3 / 2014-3 / 2019
Figure 41: Production of ethanol and the ratio of sugarcane production of ethanol produced by Brazil, 2011 / 2012-2017 / 2018
Figure 42: New York crude sugar price movements and ethanol prices in Brazil,
1/2015-3/2019
Figure 43: Production output and sugarcane planting area in Brazil, 2010-2018e
Figure 44: Production output and sugar Consumption in Brazil,
2009 / 2010-2017 / 2018e
Figure 45: Export of Brazilian sugar, 2009 / 2010-2017 / 2018e
Figure 46: Structure of sugar importing countries of Brazil, 2016 – 2017
Figure 47: Sugar production output and consumption in India,
2009/2010-2017/2018e
Figure 48: Production output and sugarcane planting area in India, 2010-2018
Figure 49: India’s sugar export structure by type, 2017
Figure 50: Sugar exports of India, 2009/2010-2017/2018e
Figure 51: India’s sugar export structure by country, 2016 – 2017
Figure 52: Production output and sugarcane / beet production productivity in China, 2010-2018e
Figure 53: Sugar production output and consumption in China, 2009/2010-2017/2018e
Figure 54: China’s sugar imports, 2009 / 2010-2017 / 2018e
Figure 55: China’s sugar import structure by country, 2017
Figure 56: Production output and sugarcane planting area in Thailand, 2010-2018
Figure 57: Production output and sugar Consumption in Thailand,
2011 / 2012-2017 / 2018e
Figure 58: Export sugar of Thailand, 2009/2010-2017/2018e
Figure 59: Thailand sugar export market, 2017
Figure 60: rea and production of sugarcane in Vietnam, 1961-2018
Figure 61: Sugarcane Area and Productivity of Vietnam, 2009/2010 – 2017/2018
Figure 62: Vietnam sugar cane output, 2009/2010 – 2017/2018
Figure 63: Allocation of Vietnam’s sugarcane planting area, 2018
Figure 64: Provinces with the largest sugarcane planting area in Vietnam, 2018
Figure 65: Sugar storage and yield of some sugarcane varieties of Vietnam
Figure 66: Number of enterprises producing sugar, 2010 – 2018
Figure 67: Distribution of enterprise quantity by region, 2018
Figure 68: Number of workers in Sugar manufacturing industry, 2010 – 2017
Figure 69: Revenue and profit of sugar industry, 2010 – 2017
Figure 70: Sugar production of Vietnam, 2009/2010 – 2018/2019
Figure 71: Structure of sugar production plants by region, 2018 / 2019f
Figure 72: Vietnam molasses, output 2010 – 2018
Figure 73: Sugar consumption output of Vietnam,  2010/2011 – 2017/2018
Figure 74: Per capita consumption of Vietnam, 2010 – 2018
Figure 75: Vietnam’s import value of sugar through months, 2016 – 2019
Figure 76: Sugar import structure by type, 3T / 2019
Figure 77: Vietnam Sugar Inventory Output, 2009/2010 – 2017/2018
Figure 78: Structure of Vietnam’s sugar import market, 3T / 2019
Figure 79: Sugar export value of Vietnam, 2016 – 2018
Figure 80: Retail price and wholesale price of domestic sugar, 1/2016 – 3/2019
Figure 81: World sugar price, 1/2016 – 3/2019
Figure 82: Forecast of production output and Consumption,
2013 / 2014-2019 / 2020f
Figure 83: Average Consumption of sugar on the world, 2012-2019f
Figure 84: Sugar production and consumption output forecasts, 2015/2016 – 2019/2020f
Figure 85: Net revenue, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 86: Gross profit margin 2016/2017 – 2017/2018 and 2017 – 2018
Figure 87: Selling expenses, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 88: Administrative expenses, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 89: Financial expenses, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 90: Debt ratio, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 91: Liquidity ratio, 2016/2017 – 2017/2018 and 2017 – 2018
Figure 92: Fixed asset turnover, 2017/2018 and 2018
Figure 93: Profit Margin, 2018 and 2017/2018

List of tables
Table 1: Tariff quota of sugar industry according to WTO commitments (%)
Table 2: Sugar tariff quota according to Vietnam’s Trade Agreements of ATIGA, AANZFTA and ACFTA (%)
Table 3: Sugar import demand of CPTPP member countries
Table 4: Comparison of methods of collecting sugarcane juice
Table 5: Comparison of sedimentation and filtration methods
Table 6: Main cane crop in Vietnam
Table 7: Grubbing stage
Table 8: Collecting stage
Table 9: Situation of sugar factory in Vietnam
Table 10: Top sugar companies