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Sugar price expected to rise after CNY

BUTTERWORTH, 20 Jan 2009: The sugar price may be raised after the Chinese New Year celebration following the hike in price in the international market, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said today.

“Eighty to 90% of our sugar supply comes from overseas. Our supply contract ended last year. This year we have a new contract and the price is higher than that last year,” he told reporters after launching the Health and the Dangers of Sugar campaign here.

He said that if the retail price were to remain at RM1.45 per kilogramme the government would have to pay a subsidy.

However, he gave an assurance that if there was an increase, it would be done gradually at intervals of three to four months.

The sugar price in the country now was lower than that in the sugar producing countries, he said, adding that it had not been increased for three years. — Bernama

 

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