An increase of illegal sugar trade in Myawaddy

Myanmar is experiencing a problem of having a large stockpile of sugar in the country due to illegal imports and few demand from China. Ministry of Commerce temporarily blocked

re-export licenses for sugar and fuel in August 2108 in order to control the foreign currency exchange rate.

Although the Government suspended importing and re-exporting of sugar at the border area of Myawaddy in Kayin State, there are still illegal trades going on according to U Win Htay, the vice president of the Myanmar Sugar and Cane Related Products Association.

As a result, sugarcane farmers are facing a loss of 5,000 MMK per tonne in this year sales as the price went down from 50, 000 MMK last year to 45,000MMK this year. Unless there is a high demand for sugar from the factories, the market for sugarcane farmers will be worsen.

Source- Myanmar Times