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Three associations of sugar millers yesterday issued a joint statement saying during that period, 7.89 million bags were sold, or 789 million kilograms, down 450,000 bags, or 45 million kilograms, from the same period last year.

The sales volume was the lowest in five years.

As of June 29, outstanding supply stood at 113.6 million kilograms.

"We don't think there will be a sugar shortage in Thailand. Rather, it is likely the market could be oversupplied," said Prakit Pradipasen, chairman of the coordinating committee for the three associations.

"Statistics show domestic sugar consumption to be the lowest in five years. Thus, reserves for domestic consumption should be cut and more sugar exported, to generate export revenue for the country," he said.

At a recent meeting between 47 sugar millers nationwide and the Sugar Cane and Sugar Committee, it was proposed that an additional 72 million kilograms of sugar be reserved, in order to prevent a shortage later this year.

Prakit assured the public there would be no shortage, because millers were obliged to save 1.9 million tonnes for domestic consumption this year. He also said farmers would not benefit from the proposal, because their revenue-sharing was based on sales figures. Higher reserves without actual sales would be of no benefit to farmers.

Some countries have suffered sugar shortages, which has pushed up the global price.