Fresh sugar to flood market in December

The sugar mills are scheduled to run at the end of November, so the new sugar will start flow­ing into the market in Decem­ber, the sugar millers said.


The sugar mills hiked up the price of sugarcane up to K150,000 per tonne for the 2023- 2024 sugarcane season from the earlier set rate of K110,000 per tonne.


The sugar prices stood at K3,800-3,850 per viss in Yan­gon’s market on 24 November. There is a price difference of approximately K150 per viss between Yangon’s market price and that of Mandalay (K3,650- 3,700 per viss), said U Naing Lin, a trader who sends sugar to regions outside Yangon, told the Global New Light of Myanmar (GNLM).


A renowned brand of sugar is supplied by Shan State. Man­dalay market is the major hub for the sugar trade.


The sugar prices were registered at K2,425-2,570 per viss on 25 November 2022. The prevailing prices indicated an increase of K1,300 per viss com­pared to that of the correspond­ing period last year.


There is a low chance of the price to dip to K3,500 per viss in Yangon’s market, trad­ers forecast. Those traders who kept the sugar stocks in their hands reaped a handsome profit this year. Thus, the new sugar is also expected to be in high demand, market observ­ers pointed out. — TWA/KK