Saturday, November 26, 2011

Govt to spend RM600m in sugar subsidy

RAUB (Nov 26): The government is expected to spend RM600 million to subsidize sugar following a hike in the price of the commodity in the world market.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the hike was due to major sugar producing countries being hit by natural disasters which resulted in production losses.

"Three main suppliers, Brazil, Thailand and Australia are now facing difficulties to meet world demand for sugar.

"Thailand and Australia were hit by floods while Brazil is in the process of replanting sugarcane PLANTATION []s," he told reporters in Bera near here.

Ismail Sabri is also the Member of Parliament for Bera. - Bernama

No comments:

Post a Comment