KUALA LUMPUR (May 22): Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said he will announce a plan to address issues raised by sugar suppliers this Thursday (May 25).
Last Tuesday, MSM Malaysia Holdings Bhd requested that Putrajaya intervene to adjust the retail price of sugar to safeguard the profitability and sustainability of the local sugar industry.
Operating under a challenging environment with high operating costs, MSM recommended a price increase or a floating price basis for the sale of sugar.
The retail sugar price in Malaysia remains among the cheapest in the world, as gazetted under the Price Control and Anti-Profiteering Act 2011 (Determination of Maximum Price – No. 2, Order 2017).
“This Thursday, I will announce a future plan regarding the supply of sugar. I hope it can resolve the issues that have arisen and issues involving the ministry and the two sugar producers in the country — MSM and Central Sugar Refinery Sdn Bhd (CSR),” Salahuddin said in a press conference at the Parliament building on Monday.
Aside from that, the Pulai Member of Parliament said sugar supply at 20 major wholesalers in Kedah supplied by MSM and CSR has been successfully restored to a level of 796,721 tonnes, following complaints.
“The ministry wants to call on consumers not to make panic purchases because the action could affect the sugar supply chain in the market,” Salahuddin said.
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