Sugar prices surge, expected to reach new highs

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The photo shows sugar from a retailed shop.

Market data indicates that the price of domestic sugar has soared to K4,550 per viss and is expected to continue rising steadily in the coming days.
On both 14 and 16 March, sugar prices in the Yangon market witnessed repeated increases, with a significant spike reported on 16 March, reaching K4,550 per viss.
Although the daily wholesale rate in the Yangon market on 16 March stood at K4,340 per viss, it surged to K4,550 per viss in the evening, despite a lower price earlier in the day. Despite this surge, there’s a noticeable rise in demand, as reported by sugar trader U Khine Zaw to the Global New Light of Myanmar.
The sugar price trajectory shows a rapid increase, with prices escalating from K3,970 per viss on 17 February to K4,400 on 14 March. The Mandalay market saw a similar trend, with prices rising from K3,970 to K4,300 during the same period.
Transport costs from Mandalay to Yangon also triggered the price surge, with prices increasing again on 14 March.
In Yangon, sugar prices climbed from K3,930 per viss in early February to K4,400 by mid-March. Predictions suggest further increases in late March, just before the Thingyan Festival.
A bakery owner in Dala Township, Ko Zarni, revealed that sugar retail prices hit K4,500 per viss on 15 March. Despite the surge, supermarket prices for white sugar remain relatively lower, at K2,150 per bag (800 grammes), according to consumers in Dagon Myothit (South) Township.
It’s anticipated that retail sugar prices will continue to rise, possibly reaching K5,000 per viss in the coming days, equivalent to jaggery prices. — TWA/ TMT

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