Sugar price on upward movement

The high price of sugar persists because of the lack of imports and low stocks in the market.
Additionally, the upward spiral of the global sugar price is another contributing factor to the price rise. The sugar fetched US$590 per tonne in early January, and the price jumped to $630 per tonne. The local sugar price stands at K3,930 per viss at present.
The sugarcane harvest season arrives. 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 increase in sugar prices.
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 had earlier sent sugar to China and Vietnam 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, Yangon, and Mandalay regions.
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