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SUGAR PRICE AT RM2.30 PER KILO

By • May 10th, 2011 • Category: ! Product News

Today, 20 cent increase for both coarse sugar and fine sugar per kilo will affect for more expensive food and beverages and people could expect to pay an additional 5 sen from current price. The sugar price  of RM2.30 is still lower than that in neighbouring Asean countries where the average price is RM3 per kg.

 SUGAR PRICE AT RM2.30 PER KILO

PUTRAJAYA: The price of sugar will go up by 20 sen to RM2.30 a kg from today.  Despite the increase for both coarse and fine sugar, the price is still lower than that in neighbouring Asean countries where the average price is RM3 per kg.

The Domestic Trade, Cooperatives and Consumerism Ministry’s secretary-general, Datuk Mohd Zain Mohd Dom, in announcing this, said it was part of the government’s move to do away with subsidies and in this case save RM116.6 million, which could be channelled to better use.
He said the revised price was set after yesterday’s Economic Council meeting but the ministry was determined to implement the new prices immediately.
“If we wait too long, it could lead to panic buying and some quarters hoarding the supply,” he said at a press conference at the ministry here yesterday evening.

This is the first hike in the price of sugar this year and Zain said there was no guarantee the price would not go up later this year.
Last year, the price of sugar was raised three times — in January, July and December — to a total of 65 sen.

Asked if the new sugar price would mean more expensive food and beverages, Zain said the people could expect to pay an additional 5 sen.

He said the amount was based on previous analysis of food items when sugar went up by 10 sen a kg.
“There will not be much of an increase,” he said.

“But prices will depend on businessmen and the industry and I hope they will control them.”

He added that the ministry’s enforcement officers would be on the watch for opportunists who might take advantage of the situation.

via: nst

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