Business

Government mulls breaking monopoly on sugar import

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 2 2018 : The government is considering a proposal to liberalise the Approved Permit (AP) in a move to break the monopoly on sugar import so as to reduce the retail price of the commodity, the Dewan Rakyat was told today.

Deputy Domestic Trade and Consumer Affairs Minister Chong Chieng Jen said the move to review the sugar import licences, that had dragged on for decades, was taken seriously to reduce the burden of the people.

“The price of sugar is now based on the world raw sugar price and taking into account the administrative cost, refinery operations, logistics and manufacturer, wholesaler and retailer margins.

“After taking into account these costs, the government feels it is impossible to reduce the retail price of sugar to RM1.50 per kg. The retail price in Malaysia now is RM2.95 per kg for white coarse sugar and RM3.05 for white granulated sugar, the lowest prices among the ASEAN countries,” he said.

Chong was replying to a question from Pang Hok Liong (PH-Labis) who had wanted the ministry to state whether it would issue more APs to sugar importers so that the price of sugar could be reduced to RM1.50 per kg or even lower. – Bernama

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