Strong overseas sugar sales bolstered by domestic consumption

In addition to regular domestic consumption, sugar is exported to overseas markets, and its sales are also excellent, according to the data provided by market researchers.
“In the local market, the supply from Sagaing is late, about two months, but the supply from Shan State is available now. That is why sugar is never out of stock. In the overseas market, 40 per cent was sold to Viet Nam. There is regular export so the foreign market can buy as much as we sell,” said an official from the sugar and molasses wholesalers’ association.
In previous years, the sugar market suffered losses and sugarcane plantation acres were reduced. But the price has been handsome this year, so the plantation acres have been extended.
The sugar price was just K900 per viss to the maximum in previous years, but currently, it is priced at around K3,850 per viss.
There is a prospect that the sugar market is promising, and both farmers and consumers will be fine if farmers are able to extend the plantation acres in the coming season, said sugar market analysts. — Thit Taw/ZS