Johor-based MSM Malaysia Holdings Bhd has revealed plan to export its premium white sugar brand, Gula Super, the latest addition to its Gula Prai portfolio.
MSM Group Chief Executive Officer Syed Feizal Syed Mohammad has recently announced plan to export its newly launched premium white sugar product, Gula Super, to neighbouring countries, specifically Singapore, starting 2024 and the decision is also affected by the close proximity between MSM factory in Johor and Singapore.
Relevant authorities in Malaysia have also studied the recent decision to export sugar to ensure that this will not cause any disruption to sugar supply or affect the prices of sugar in the domestic market. There is indeed ample supply of sugar to meet domestic need and it will have no impact on sugar prices.
The Johor state has also warned businesses from profiteering by holding sugar supply or charging higher prices for sugar from what has been advertised, and this might lead to fines or confiscation of sugar products. Sugar is an essential household item and the state monitors movement and trade of sugar regularly.
In 2023, MSM exports sugar to 17 countries with the volume expected to rise significantly to 10,000 tons monthly in 2024 from between 5,000 and 6,000 tonnes in 2023.
