Although the operations of the sugar mills are in full swing, the sugar prices bounced back to K3,830-K3,850 per viss on 11 December after a drop to K3,760-K3,780 per viss at the end of November. The new sugar has yet to enter the Yangon market, Ko Kyaw Min, who sends sugar to the delta regions from Yangon, told The Global New Light of Myanmar (GNLM).
A market observer pointed out that high production costs amid long power breakouts amid the fuel oil market chaos are expected.
In the previous months, traders offered K3,500 per viss in advance purchase order.
The sugar prices were K2,425-K2,550 per viss only on 12 December 2022. The prevailing price of sugar is up by K1,300 per viss compared to last year’s corresponding period. This year, the millers raised the sugarcane price to approximately K20,000 per viss.
The prices of sugar, jaggery and sugarcane candy are climbing in the Yangon market. The prices stood at K4,500-K4,700 per viss of jaggery from NyaungU, K5,000-K5,600 for jaggery from Yesagyo area and K4,100-K4,200 per viss of sugarcane candy.
With the prices of sugar and jaggery jumping, the utilization of artificial sweeteners and sugar substitutes is likely to happen. Yet, a sugar seller said those ingredients are not good for health.
Sugarcane growers and sugar traders keeping the stocks in hand are making a handsome profit at the beginning of the sugar mill season. However, consumers face high food costs. — TWA/EM
