There are offers from new international markets such as Pakistan, Bangladesh and Singapore to buy Myanmar sugar but it could not be exported as there is no agreeable price, U Win Htay, vice chairman of the Myanmar Sugar and Sugarcane Products Association, said.
The price of exporting sugar is only around 600 US dollars per ton, which is not agreeable for traders compared to the domestic market price. Therefore, sugar exports in this fiscal year are likely to decrease by 30 percent compared to last year, U Win Htay said.
Currently, Myanmar’s sugar is mainly exported to Vietnam. Although sugarcane is exported through the border trade route, the export of sugar syrup to China has been stopped.
The domestic sugar price is 500 kyats per viss while trading in the domestic wholesale is normal. Due to the high price in the domestic market, sugar factories are paying up to 180,000 kyats per ton of sugarcane, which raises the number of sugarcane farmers. There are 29 large sugar factories in the country but only 26 of them are operational due to some difficulties. The Myanmar Sugar and Sugarcane Products Association estimates that domestic sugar production will be about 500,000 tons this year.
Domestic sugar production slightly falls
Although domestic sugar factories are regularly operating, the production slightly...
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