The price of any commodity depends upon its supply. If the demand is strong and the supplies are regular, the prices remain stable and in case, supplies fall short even though demand remains strong, the prices begin to soar. And, as it seems, the latter has been the case, this time around with Malaysia.

Located in Southeast Asia, Malaysia is the 11th largest sugar importer in the world and the country imports bulk sugar every year to meet its domestic consumption needs. In the event of disruptions in the supply of sugar, the prices rise in the Malaysian markets and market reports have been highlighting that the country is facing the same issue this time as well. Sugar shortage has made it difficult for hundreds of fellow Malaysians and after the state media highlighted their sufferings, a cabinet committee has been set up to address this issue, said Mr. Datuk Seri Salahudding Ayub, Domestic Trade and Cost of Living Minister.

Official’s Statements

Mr. Datuk Seri Salahudding Ayub, Domestic Trade and Cost of Living Minister said that the decision to establish a committee to look after sugar shortage in the country was decided in a cabinet meeting on 11th of April, 2023 itself and the committee would involve three other ministries as well, namely the Ministry of Finance, the Ministry of Investment, Trade and Industry and the Ministry of Economy. 

In a press conference, he further elaborated that although sugar shortage affects only Kelantan and Terengganu, we had come to the decision that a cabinet committee should be formed to address this issue. The cabinet committee will submit its report in one month and thereafter, further plan of action would be devised. 

When asked about the cabinet committee’s approach towards this problem, Mr. Datuk Seri Salahudding Ayub said that the committee would discuss the issue with various stakeholders particularly local sugar manufactures and will incorporate their inputs and viewpoints while preparing its report. including the talk, he said that he is optimistic that with comprehensive plans and steps, the sugar situation in the country would ease and the price would stabilize.

The Bottom Line

Malaysia is the 11th largest sugar importer in the world. It imports bulk volumes of sugar to meet its domestic needs. However, supply shortage has put the Asian nation in a fix. Owing to supply crunch, prices have been soaring in the domestic markets of Malaysia and after being highlighted by the media, the decision to establish a committee to solve this issue has been taken in a cabinet meeting on 11th of April, 2023. Mr. Datuk Seri Salahudding Ayub, minister of Domestic Trade and Cost of Living is hopeful that the cabinet’s report will help them come up with a plan of action which would ultimately solve this problem.

If you are a sugar exporter looking to export bulk sugar or are a sugar importer looking to import bulk sugar, then Tradologie.com is the platform for you. Tradologie has over 600,000 verified buyers and 70,000+ verified suppliers in its network and through the platform, you can connect and conduct bulk trade of food and agro-commodities with ease.

To register as a seller, click here. To register as a buyer, click here.

To stay updated with the recent happenings of the agro-trade industry, do follow Tradologie across all social media channels.