According to information reported by the Bayintnaung Wholesale market, the sugar price is trending upward these days.
It leaps from K4,470 on 1 April to K4,600 on 23 April in the domestic sugar market. Thus, the price has gotten higher, K130, within three weeks.
Increasing prices resulted from a lack of sugar imports and increased manufacturing costs, according to sugar traders.
However, the report states that the sugar price in the global market is trending downward at US$550 per tonne.
In Myanmar, there are approximately 450,000 acres of sugarcane cultivations from which around 450,000 tonnes of sugar are produced. Sugarcanes are primarily cultivated in the upper Sagaing Region, followed by northern Shan State. What is more, cane is also planted in western and eastern Bago Region, Yangon and Mandalay on a small scale.
According to the Myanmar Sugar and Sugarcane Related Association, the sugar surplus exceeding domestic consumption was exported to China and Viet Nam in previous years. However, this year, Myanmar exports sugar only to Viet Nam.
Cane is harvested only once a year since it usually commences cultivation in December and January and is harvested in December, January, and February of next year. — NN/ TMT
