BANGKOK, Oct 31 (Reuters) - Thailand will reverse a 20% increase in domestic sugar prices, a senior official said on Tuesday, after cabinet approved classifying the commodity as a controlled good.
Prices must be amended back to 19 baht and 20 baht for white sugar and refined white sugar, respectively, as before, said Cane and Sugar Board deputy secretary-general Virit Viseshsindh.
Thailand this year is expected to produce 8 million tons of sugar, of which 2.5 million will be consumed domestically.
As a controlled good, sugar exports of more than one ton will require government approval, he said.
(Reporting by Panarat Thepgumpanat, Writing by Chayut Setboonsarng)
