After a strong rally that took the raw sugar market price to a high of 36.08 cents/lb in early February, prices have dropped following good crops in India, Thailand and other producing countries, reports Dow Jones.
The report adds:
Raw sugar futures traded on the Intercontinental Exchange, or ICE, could fall to as low as 16 U.S. cents a pound by November-December because of a better-than-expected crop in Thailand and the onset of the Brazilian harvest, but prices could average 20 cents a pound over the next year, Dow Jones reports an industry analyst as saying.
See the full report in the tradingcharts.com website.
When the local sugar price was previously raised in January 2011, the Domestic Trade, Cooperatives and Consumerism Ministry Secretary-General was reported as saying the increase in sugar price was necessary due to the rise in the price of the raw commodity on the world market, especially since August, from between 14 and 16 US cents (48 and 55 sen) to 27 US cents (92 sen).
The price as at 10 May 2011 now for July delivery is around 21 US cents.
The global price has now fallen, and we get another local price hike?
(Thanks to blog reader S Chuah for the alert.)
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Hey why you bother about sugar price? Stupid bolehlanders superimpose diabetic problem on themselves by refusing to take sugar. Sugar to them is a poison. A diabetic patient is one who can’t digest sugar after consuming sugar. However Bolehlanders refuse to take sugar until they suffer the same fate as diabetic patients. Since sugar consumption in Malaysia is quite low particularly with those so called intellectual or well educated no brainers. Why bother about sugar price when our no brainers refuse to take sugar and happily suffered from low sugar condition or hypoglycemia? Wonder why majority of the chinese have… Read more »
When I go for my kopi kosong with no sugar, the mamak should give me discount, right?
The increase of price of sugar has nothing to do with global sugar price.
The reason is that the gradual reduction of sugar subsidies. Excessive sugar intake is no good for your health.
Aiyo Gerakan – how you do your food franchise business like this. Sugar is imported of course it has EVERYTHING to do with global sugar price lah! The interesting question should be HOW MANY TIMES IS THE IMPORTED COST PRICE IS BEING JACKED UP BEFORE SELLING TO RAKYAT….. aaahhhhahhhhhh this is the critical point… that our Government should (stem) with its Govt’s Sugar Supplier, not burdening the Rakyat like now!
I’m a franchisee. Apart of my ability to pay for franchisor’s $$$, everything provided by them, from site search, build, decorate, products supply, training, etc. I just need to monitor it closely.
Global sugar price has nothing to do with local sugar price as long as there is on going gradual reduction of sugar subsidies by the government. So, stop tipu here and there.
Quick, somebody please tell me how much U$0.16 per US pound equals to RM per KG?
Why is the government keeps telling us that they subsidize sugar when the truth is sugar out there is cheaper than the sugar we purchase at supermarkets?
When Robert Kwok was the king of sugar, there was hardly any increase in the price of sugar.
However, since the takeover by some people, the price of sugar keeps increasing. How come and why???
Exactly. Now that sugar is part of ‘their’ business, all logic goes out the door.
This you need to ask meh?
Robert Kwok is not an umnoputra…
Grow up lah small brain !!! Learn to think OK. Clear up the opposition propaganda and ignore that Pua.
Robert Kwok or anyone else also selling the same price for sugar. The question is who pays which parts of total.
Parts of payment are coming from BN government money = subsidies
Other parts are the market price.
So, no matter who are controlling the sugar, they all selling the sugar indifferently. Only who pay them that differ.
The rich in Malaysia (led by the BN politicians and their cronies) get richer while the poor lose their subsidies and get poorer. Hooray for Capitalism ala Parti Barang Naik..!
Hi everyone, The current sugar price per pound of US21 cents on 10 May 2011 as opposed to US27 cents per pound when sugar price was raised in Jan. 2011. Why then is there a need of a rise of 20 cents per kg in our country now? Instead the price adjustment should be downwards rather than a rise of 20 cents! Moreover, it is projected that global sugar price is to fall further this year! Don’t use the excuse of ‘better for your health’ if one is to take less sugar! Yes, better for healthier living, but shouldn’t it… Read more »
RM19 bilion setahun boleh diselamatkan melalui pemberhentian subsidi kepada IPP, berbanding pemotongan subsidi gula RM116 juta hingga menyusahkan rakyat.
IPP ialah Independent Power producer eg YTL
You are dead right and billions more can be saved if we can root out corruption and rent-seeking.
Look at who own the IPPs.
Except YTL, the rest of the IPPs are in firm control of the umnoputras.
Great! Sugar in the morning, sugar in the evening and sugar at super time…only more blokes will die of heart attack!!
I stick to my God created premiere sugar that pleasureth me all the time!
it appears government is running low on cash reserve so some subsidy has to be dropped to avoid bankcrupsy. simple as that.
Time to think out of context. Since Malaysia mostly import sugar material from overseas, it is absurd not to promote other sweetener that is cheaper, safer and healthier. It is a eyesore when you look at all those Malaysia uniform group video/photo footage, oh dear, obesity become the country society problem. In contrast, sugar cane and energy deficient country such as Japan, already advocate stevia as the daily diet sweetener. Stevia alone, has transform the logistic and the nation diet. Imagine 1kg of Stevia replace from 150kg up to 300kg (depends on purity level) sugar, it make a big different… Read more »
Moo_t painted the picture – the grotesque figure underneath uniforms – a picture of greed of gorging. This is attitude problem which they choose to burden themselves. Its their/parents choice. Schoolkids food range in canteen/social:- Biscuits, cakes, drinks, breads, yogurt, jams, chocolates, candies – all use sugar. Increased sugar price in each of the ingredients that use sugar, the total costs carry bullwhip-effect on product prices. Parents will carry the bloated burden…. very heavy burden when they have more than 1 kid. This is just painting a basic-needs picture. Which parents have no choice, coz kids are kids, they will… Read more »
“Time to think out of context. Since Malaysia mostly import sugar material from overseas, it is absurd not to promote other sweetener that is cheaper, safer and healthier.”
Dear Scientist Extravaganza,
Can you please tell us the sweeterner that is “cheaper, safer and healthier” than sugar.
Here you go.
http://en.wikipedia.org/wiki/Sugar_substitute
When come to FDA consent , Generally recognized as safe (GRAS) ，is the term define how safe the food for the time being.
Contradict to many people thinking, white sugar undergo heavy industrial processes, it provide no nutrients other than energy, which is excessive for urban lifestyle.