THE government has no plans to increase sugar prices, said deputy minister Fuziah Salleh in brushing aside continued speculations of a price hike.

The deputy domestic trade and cost of living (KPDN) minister no discussions or decisions had been made at the Cabinet on the matter.

She also said the government had reiterated its stand on this on numerous occasions.

Fuziah explained that speculation about a potential price hike emerged last April following industry complaints that prompted requests for a price increase, citing losses of 88 sen per kilogramme of sugar produced.

“To address this, the government has provided monthly incentives totaling RM42 million to stabilise supply prices.

“This measure aims to prevent production stoppages due to financial losses,“ she told reporters in Nibong Tebal today, reported Bernama.

She said the speculation arose due to the indefinite duration of the government’s incentive programme, which continues to date.

In April, the ministry announced that the government would decide on mechanisms to stabilise sugar supply, including pricing considerations, in the second quarter of this year.

Minister Armizan Mohd Ali indicated that evaluation of potential mechanisms includes proposals for maintaining sugar stocks, providing subsidies, or adjusting the controlled price, currently set at RM2.85 per kilogramme. – June 30, 2024.