The new sugar price expected to fetch good price at the end of December 2020

The price of new sugar produced at the end of December is expected to rise as the stock of old sugar, and imported sugar is remained less, according to Sugar and Cane Related Products Association.
“Local sugar mills are started running beginning from 5 December. The new sugar will be produced in December-end. The stock of old sugar has become lesser. Additionally, sugar import is rarely found in the meantime. Sugar price has surprisingly risen this year in the international market. The domestic sugar market also sees a potential,” said U Thi Ha Tun, secretary of Sugar and Cane Related Products Association.
Sugar millers purchased sugarcanes in mid-December, and the mills are operating to produce sugar by the 2020-2021 sugarcane season. At present, the sugar mills in eastern and western Bago Region are running. The mills in northern and southern Shan State and
Sagaing Region are soon to operate.
“Myanmar can export locally produced sugar to China and Viet Nam. As the supply is deficient, the price will rise on the growing demand for sure,” vice-chairman U Win Htay of the association guessed.
Sugarcane covered 438,420 acres in the country this year. Myanmar’s sugar mills intend to grind 4.2 million tonnes of sugarcanes in the 2020-2021 sugarcane season, the Agriculture Department stated.
Myanmar produced about 450,000 tonnes of sugar from 440,000 acres of sugarcane plantations in the 2014-2015 financial year, over 390,000 tonnes from 390,000 acres in the 2015-2016FY, over 370,000 tonnes from 400,000 acres in the 2016-2017FY, over 500,000 tonnes from 400,000 acres in the 2017-2018FY, and 500,000 tonnes from 500,000 acres in the 2018-2019FY.
Sugar cane prices were pegged at over K50,000 per ton in the 2015-2016FY, K45,000 in the 2016-2017FY, K41,500 in the 2017-2018FY, and K38,000-40,000 in the 2018-2019FY, according to news released online by the Ministry of Commerce.—Min Htet Aung (Mandalay sub-printing house) (Translated by Ei Myat Mon)

(The Global New Light of Myanmar: https://www.gnlm.com.mm/new-sugar-likely-to-fetch-good-price-at-year-end/ )

​