Saifuddin Nasution: Sugar Price Drops 10 Sen Per Kg From Sept 1

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PUTRAJAYA, Aug 27 – The price of sugar will be lower by 10 sen per kg effective Sept 1 in line with the fall in sugar prices in the world market, Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail said today.

The new retail price of coarse sugar will be RM2.85 per kg and that of fine sugar, RM2.95 per kg, he said at a press conference after the monthly gathering of the ministry here.

He said similar measures were being adopted in neighbouring countries such as Singapore, Indonesia and Thailand and added that the price of sugar in Malaysia was among the lowest in the region.

“The government is also concerned about the cost of living which, among others, is contributed by a rise in the prices of essential goods,” he said. Saifuddin Nasution said it was hoped that the drop in the price of sugar would have a multiplier effect on the prices of food and drinks in the market.

According to the minister, the last time the price of sugar was revised was on March 1, 2017, when it rose by 11 sen to RM2.95 The drop in the price of sugar did not mean that the government supported the consumption of more sugar, he said and added that it was hoped that the people would continue to adopt a healthy lifestyle.

In 2016, he said, 3.6 million people or 17.5% of the population aged 18 and above were diabetic and the number could continue to rise unless preventive measures were adopted.

Saifuddin Nasution also announced the government decision to restructure several ministries, saying four agencies under his ministry – namely the Cooperatives Commission of Malaysia, Cooperative College of Malaysia, Bank Rakyat and Perbadanan Nasional Berhad – would be placed under the Entrepreneur Development Ministry.

“Prime Minister Tun Dr Mahathir Mohamad conveyed the decision to me in writing … this move is effective from the date of the letter, which was several days ago,” he said.

Saifuddin Nasution said his ministry would retain three agencies, namely the Companies Commission of Malaysia (SSM), Intellectual Property Corporation of Malaysia (MyIPO) and the Competition Commission of Malaysia (MyCC). — Bernama

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