Government will not increase the sugar price

Government will not increase the sugar price - price of sugar


PUTRAJAYA – The government will not raise the price of sugar despite the request to do so from the sugar manufacturers, said the Minister of Domestic Trade, Cooperatives and Consumerism, Datuk Seri Hamzah Zainuddin.

The government has just increased the price of sugar to 11 sen in March, besides, the global price of sugar has also reduced, he added.

He explained, the government raised the sugar price in March as the global market price for sugar was between US$0.22 to US$0.23 per pound.

“There is no reason for me to do that when the global sugar price has reduced,” he said while referring to the current sugar price of US$0.17 per pound.

He was asked to comment on the request of MSM Malaysia Holdings Bhd to increase the price of sugar to 29 sen. He added, the senior management of MSM Malaysia including its Chief Executive Director had met up with him to discuss on the matter.

“I told them sternly that the price of sugar cannot be increased, unless the company is suffering huge loss.

“It is unfair for the government to increase the sugar price so that MSM Malaysia can record profits in folds,” he said.

Hamzah also launched the #janganlebihlebih campaign in conjunction of the Ramadanand Aidilfitri celebration. The three series of 20 seconds video clips aims to create awareness among consumers to spend in moderation and not to waste.

During the same event, Hamzah also witnessed the signing of a memorandum of understanding between the Malaysia Cooperative College and Skills Development Department to boost the cooperatives in this country. -MalaysiaGazette