Import of Sugar ‘Greater Than Local Needs’

Mandalay- Sugar import from foreign countries is more than the amount of local consumption and may cause a decline in the sugar price. This will affect sugarcane farmers as it is the harvesting time, said Win Htay of the Myanmar Sugar and Sugarcane Product Entrepreneurs Association (Mandalay).
Due to climatic change this year, the harvesting season of sugarcane was delayed and as a result the grinding of sugarcane will continue until April. Due to decline in sugar prices, sugar-grinding mills stopped early this year and anxiety grew among farmers as to whether their cane would be purchased.
“Sugarcane businessmen import a surplus amount of sugarcane and there is more than the amount of the local market. China is purchasing less sugarcane as it is close to Chinese New Year. If it happens in the long term, there may be consequences of a fall in sugar prices. We need to think of future plans,” said Win Htay.
It is estimated that Myanmar’s sugar consumption is about 500,000 tonnes a year. Currently, sugar prices amounts to around , per viss while the sugarcane price per tonne ranges between K45,000 and K53,000.

 

Source: Eleven Myanmar

 

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