MSM, CSR committed to providing high quality sugar
Published on: Friday, July 13, 2018
Kuala Lumpur: Local sugar refiners, MSM Malaysia Holdings Bhd (MSM) and Central Sugars Refinery Sdn Bhd (CSR), are committed to providing a stable environment for consumers while maintaining highest standards of sugar quality even at the current controlled price.In Malaysia, there are two sugar refiners – MSM under FGV Holdings Bhd and CSR under Tradewinds (M) Bhd – operating five sugar refinery plants including a new plant in Tanjung Langsat, Pasir Gudang, Johor, which is scheduled to be commissioned this month.In a joint statement, both companies said the current total capacity of the existing four refineries was two million metric tonnes per year while domestic demand in Malaysia was approximately 1.5 million metric tonnes per year, leaving Malaysia with an excess capacity of 500,000 metric tonnes per year.
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It said with the upcoming new refinery in Johor, total capacity will be three million metric tonnes per year, on top of the import of sugar brands such as SIS, Taikoo, Waitrose, Billington, Tate & Lyle, which provided for a competitive landscape.Local refiners operate within a challenging business environment to ensure a steady sugar supply to Malaysian consumers while maintaining a decent sugar stockpile for the nation."As sugar is gazetted under the Price Control and Anti-Profiteering Act 2011 (Determination of Maximum Price – No. 2, Order 2017), sugar in Malaysia is among the cheapest in the world whereby currently, the ceiling price for coarse grain sugar is set at RM2.95/kg and fine granulated sugar is set at RM3.05/kg."Today, at RM2.95/kg, the price of refined sugar in Malaysia is among the cheapest.
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