Wednesday, January 21, 2009
WEDNESDAY-21 JANUARY 2009 - SUGAR PRICE MAY GO UP SOON
Sugar price may go up soon
The price of sugar maybe raised after the Chinese New Year celebrations following the hike in price in the international market, Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said yesterday.
“Eighty to 90 per cent of our sugar supply comes from overseas. Our supply contract ended last year. This year we have a new contract and the price is higher than that of last year,” he told reporters after launching the Health and the• Dangers of Sugar Campaign here.
He said if the retail price were to remain at RM1.45 per kilogram, the Government would have to pay a subsidy.
However, he assured that if there is an increase, it would be done gradually at intervals of three to four months.
The sugar price in the country now is lower than that in the sugar producing countries, he said, adding that it had not been increased for three years. - Bernama