The price of sugar peaked at over K3,900 per viss on 27 December despite the sugarcane harvest season.
The sugar price stood at K3,780 per viss on 1 December. The figures showed an increase of K150 per viss within four weeks.
High price is attributed to the lack of sugar imports and low stocks in the domestic market.
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-K100,000 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 amid the price rise in sugar.
Additionally, sugar mills are pushing up the growers to ramp up per-acre yield and expand the cultivation acreage.
The sugar price was below at K1,000 per viss in the 2019- 2020 sugarcane season. The prevailing price increased to over K3,900 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 Cane 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
