The announcement from the Domestic Trade and Consumer Affairs Ministry yesterday was kind of 'sweet' - the price of sugar will stay at between RM1.40 and RM1.45 per kg.

Thus, millions of Malaysian consumers need not have to fork out extra money to pay for their sugar.

The ministry said that despite pressure from sugar retailers and suppliers, the price of the controlled item will not be raised for the time being, according to a Bernama report..

Domestic Trade and Consumer Affairs Deputy Minister Datuk S. Veerasingam said "the government has no plan to raise the price of the commodity" as the shortage was just artificial.

He said the artificial shortage of sugar could be caused by smuggling of the item to neighbouring countries, adding that the price of sugar was high - up to RM2.50 per kg - in neighbouring countries due to higher demand.

No panic-buying

Veerasingam urged consumers not to rush into panic-buying as this could cause artificial shortage of the commodity and assured consumers that there would not be any shortage of sugar in the market from now on.

"When there is panic-buying, supply will definitely be affected. People must not hoard the item too. They must buy according to how much they require and no more," he added.