(Kuala Lumpur, Malaysia, 20th April ) Manufacturers and merchants in Malaysia have been notified that the price of white sugar is set to increase in Malaysia, but the exact increase has not yet been determined. It is expected to increase by approximately 1 ringgit per kilogram. Fang Zhimin, president of the Federation of Malaysian Grocers, stated that an increase of even 30 to 50 cents would already put pressure on businesses.
The rise in the price of sugar is due to the increase in the price of raw sugar, which is floating, and the manufacturers are seeking to increase the retail price of white sugar to compensate for the high production costs such as raw sugar.
Malaysian Sugar Factory (MSM) has been negotiating with the government to increase the retail price of white sugar since May 2021. The company hopes to increase the retail price per kilogram and is requesting a positive response from the government within a month at the earliest.
MSM has lost four quarters in a row, mainly due to high costs, especially the high cost of imported raw sugar. At present, the company sells about 24,000 tons of sugar per month. If the negotiation with the government is successful, the ceiling price of sugar is expected to be adjusted to 70 cents to RM1.20.
The rise in the price of sugar is expected to have a significant impact on the whole body as many drinks and food ingredients contain sugar. The president of the Federation of Malaysian Grocers hopes that the sugar mills will understand the hardships of the people during the inflation period and not increase the price too much.
Manufacturers have received news that the price of white sugar will increase, but they still do not know how much the increase will be and when the price will increase. There hasn’t been a meeting to discuss the matter yet, so they don’t know the extent of the impact, and they don’t know if there will be an increase in the price of sugar-related foods.
In conclusion, the increase in the price of white sugar is expected to have a significant impact on manufacturers, stores, households, and consumers. The extent of the impact is not yet known, but it is hoped that the government will make a decision that will benefit all parties involved.