White sugar price is currently holding at K1,050 per viss (1.6 kilograms or 3.6 pounds), while refined sugar is being sold at K1,150 per viss in the Yangon wholesale market, said local wholesale traders.
In spite of the rise in the exchange rate, the price of imported sugar touched maximum of K1,200 per viss this year, a decline of K150 per viss compared with last year, when sugar prices had hit a record high of K1,450 per viss.
According to traders, sugar prices declined to K990 in early August as a result of the dollar’s appreciation and difficulties in the export of rice and sugar through the borders.
Sugar is among the re-export items of Myanmar, which imports it from Thailand and India via the border and the sea. The imported sugar is mainly shipped to China, the largest neighbor of Myanmar.
Most of the sugar produced in the country serves the domestic market.
—Maung Say Aung
(Translated by Khaing Thanda Lwin)