Domestic sugar price going upward spiral

The sugar price is on an upward trend in the domestic market as global sugar prices spiked.
With the global price soaring to $630 per tonne. The sugar price rose to K4,050 per viss in the domestic market. It is the time of sugarcane harvest season. The sugar mills notified sugarcane growers that they raised the price of sugarcane to K150,000 per tonne for the 2023-2024 sugarcane season.
The company set the sugarcane floor price at K90,000-K100,000 per tonne last season. Sugarcane and sugar traders emphasized that the rise in the offering price is aimed at covering the high input cost of the growers amid the rise in sugar price.
Additionally, sugar mills encouraged the growers to ramp up per-acre yield and expand the cultivation acres. Myanmar’s annual sugar production is estimated at 450,000 tonnes. Myanmar earlier sent sugar to China and Viet Nam beyond self-sufficiency. At present, it is delivered to Viet Nam only, Myanmar Sugar and Cane Related Association stated.
Sugarcane is commonly found in the upper Sagaing Region, followed by northern Shan State. It is also found in the western and eastern Bago Region, Yangon Region and Mandalay Region. The sugarcane is grown in December-January. It can be harvested from November to February of the following years. The sugarcane growing rotation cycle lasts four years in Myanmar. — NN/EM

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