According to the Myanmar Sugar and Cane Related Product Association (MSCRPA), sugar trading in the Mandalay market is robust due to strong domestic and international demand, reports Mizzima.
A representative from MSCRPA noted that sugar trading in the Mandalay market was steady during the first week of August but saw a significant increase in the second week. He added that while the high demand is unlikely to deplete the market’s sugar stock entirely, there could still be a shortage of sugar.
As of today, sugar price sells at 4,750 Kyats per viss, about 1.6 kilos, in the Mandalay market. Vietnam is still assessed as being a main export market for Myanmar’s sugar. Nonetheless, there are also purchases from the ASEAN markets and other countries like Bangladesh, and Indonesia.
The major sugar-producing regions in Myanmar are Mandalay, Sagaing, Yangon, and Bago. However, the MSCRPA noted that sugar exports for the 2023-24 season are expected to fall short of the target. The ongoing conflict in parts of Sagaing Region and Shan State has disrupted operations at some sugar mills, resulting in an output that is about 20,000 tonnes less than previously estimated.
Myanmar’s sugarcane acreage covers over 430,000 acres, with key production areas located in the north and south of Shan State, Sagaing Region, and Bago Region.
