Thailand exported 259k tonnes of white sugar in May, up 17k tonnes month-on-month (MoM).
Vietnam was the largest importer (102kmt), as it prepares for a 200k tonne decrease in sugar production year-on-year (YoY).
Thailand has exported 1.36m tonnes of white sugar between January and May 2020; this is 200k tonnes more than they did in the same period last year.

White Sugar Shipments: A Notable Increase from Vietnam

Thailand’s pace of exports was slightly up in May compared to the previous month.
It was, however, 149k tonnes lower than it was in May 2019.

Vietnam was the largest importer by far in May, with their offtake jumping from 52k tonnes to 102k tonnes.
This is because their sugar production in 2019/20 could be 200k tonnes lower than it was last season, meaning they’ll need to import more.
Taiwan (35kmt), China (16kmt), and Cambodia (14kmt) also appeared high in the line-up, as if often the case.
South Korea imported 20kmt in May; this is perhaps more unusual, as they have not imported Thai white sugar in such a quantity since August last year, when they imported (23kmt).

White sugar shipments to Indonesia increased by 8.7k tonnes between April and May.
This is lower than usual as white sugar flows from India to Indonesia recently surged.
Halfway through May, Indonesia had nominated just under 100k tonnes of Indian white sugar.
This is because Indonesia is now able to take white sugar from India after a change in its import rules.

Refined Sugar Shipments: Undersupplied in 2020

Vietnam, Cambodia, China, and Taiwan remain amongst Thailand’s top 10 smuggling destinations so far in 2020.
These four regions had a strong presence in May’s line-up, having had relatively consistent offtakes for months.

The refined sugar market will be undersupplied for much of 2020, following poor crops from Thailand, the USA and, Mexico in the 19/20 season.