The price of sugar stayed on the high side despite the approaching sugarcane season.
The sugarcane season will kick off at the end of November. The sugar price touched a high of K3,800 per viss at present, according to the Yangon Region Chamber of Commerce and Industry (Bayintnaung Depot).
The sugar mills notified sugarcane growers again 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- 100,000 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 and following the price rise in sugar.
Additionally, sugar mills are pushing the growers to ramp up per-acre yield and expand the cultivation acres.
The sugar price was below at K1,000 per viss in the 2019- 2020 sugarcane season. The prevailing price increased to K3,800 per viss amid low stocks and no importation of sugar.
Myanmar’s annual sugar production is estimated at 450,000 tonnes. Myanmar earlier sent sugar to China and Viet Nam beyond self-sufficiency. At present, it is delivered to Viet Nam only, Myanmar Sugar and Sugarcane 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 Region, Yangon Region and Mandalay Region.
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
