According to the industry expert, sugar prices are likely to soar in Malaysia, reported News Straits Times.
Datuk Dr. Ameer Ali Mydin, the Managing Director of Mydin Mohamed Holdings Berhad (Mydin), has raised an alarm about the surging international prices of sugar.
“After the recent shortage of local white rice, the next impending crisis may involve sugar. Sugar is subject to price controls, currently set at RM2.85 per kilogram (kg). However, international sugar prices have surged to between RM3.60 and RM3.80 per kg (for a 50kg bag). Naturally, when such disparities exist, the potential for market irregularities increases,” he cautioned.
Mydin also noted that certain supermarkets and retailers are already imposing limitations on sugar purchases, restricting customers to five packets each. Such restrictions, he emphasized, indicate the existence of underlying issues.
He has made an urgent appeal to the government and relevant ministries and departments to take immediate action to mitigate the impending sugar crisis before it escalates further.
