With domestic consumption, sugar sales in overseas market good

In addition to regular domestic consumption, sugar is being exported to overseas market and its sale is also fine, according to the data provided by market researchers.

“In local market, the supply from Sagaing is late about two months, but the supply from Shan State is available now. That is why, sugar is never out of stock. In overseas market, 40 per cent was sold to Vietnam. There is regular export so the foreign market can buy as much as we sell,” said an official from sugar and molasses wholesalers association.

In previous years, the sugar market suffered losses and sugarcane plantation acres were reduced. But the price has been good this year so the plantation acres have been extended.

The sugar price was just K900 per viss to the maximum in previous years, but currently it is priced at around K3850 per viss.

There is a prospect that the sugar market is promising and both farmers and consumers will be fine if farmers are able to extend the plantation acres in coming season, said sugar market analysts.

Thit Taw/ZS

 

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