KUCHING: Sugar prices might soon be on the rise.
Malaysian Academy of Science fellow Datuk Dr Madeline Berma said that market discussions point towards a likely increase in sugar prices.
Speaking to the New Sarawak Tribune recently, Madeline noted that due to sugar’s popularity among Malaysians, it’s a prime candidate for a price hike.
“Market insiders have hinted that sugar could see a price rise soon, mainly because production costs are rising,” she said.
“It’s not just about the raw materials. Prices of other inputs like fertilisers also play a part. We’re witnessing a rise in food costs, with items like chicken and eggs becoming pricier. Many believe sugar is next, given its regular use by Malaysians.”
On potential solutions to curb further price increases, Madeline suggested that raising salaries and creating more job opportunities could enhance the community’s overall well-being.
“Considering our current earnings, many find it challenging to cope. For instance, the minimum wage is RM1,500, which isn’t enough for most. In developed countries, even if items are pricier, people’s earnings are proportionally higher. We need to balance our income with the cost of living,” she said.
Madeline also pointed to the potential benefits of large-scale, labour-intensive projects.
“Such initiatives can create more jobs and boost income. Look at China; their major construction projects provide employment and elevate incomes. I hope our state can initiate significant projects so locals can find jobs and see a rise in their earnings. Additionally, revising subsidies could be helpful, especially since the middle-income group already contributes via taxes,” she added.
