KUALA LUMPUR: Government incentives for major sugar producers, including MSM Malaysia Holdings Bhd, have successfully prevented domestic sugar price hikes despite rising global raw sugar costs. Federal Land Development Authority (Felda) chairman Datuk Seri Ahmad Shabery Cheek confirmed the measures have shielded both companies and consumers from financial strain.
“The assistance ensures no price increase is necessary while supporting Felda settlers who hold shares in sugar producers,” he said during the FGV Festival launch at the Malaysian International Trade and Exhibition Centre (MITEC). He highlighted past struggles where settlers subsidised sugar sales, reducing their dividends.
MSM previously proposed raising coarse sugar prices from RM2.85 to RM3.85 per kg to offset losses from government-controlled ceiling prices. However, current incentives have negated the need for adjustments. – Bernama
