Kuala Lumpur: Examining the trajectory of the local sugar industry and its supply dynamics requires consideration beyond the local sugar market prices, emphasized Datuk Armizan Mohd Ali, the Minister of Domestic Trade and Cost of Living, reported Malaymail.
He underscored the importance of assessing factors such as the stability of the imported raw sugar supply and the sustainability of the local processed sugar supply chain.
Highlighting a crucial aspect, he pointed out that the country relies entirely on the import of raw sugar for the domestic market. Against the backdrop of recent years witnessing a surge in global raw sugar prices, Minister Armizan expressed concern over the heightened risk of a global sugar supply shortage. This concern was conveyed in a Facebook post today.
The minister shared insights from his meeting with two prominent local sugar manufacturers, namely MSM Malaysia Holdings Bhd (MSM) and Central Sugars Refinery (CSR), held at his ministry the previous day. Armizan referenced an article from Business Mirror, which reported that Alvean, the world’s largest sugar trader, predicted the world to face the sixth consecutive year of a sugar supply deficit.
