Sugar prices up, Illovo says its rising inflation and devalutaion of Kwacha
The country’s sole local sugar manufacturer, Illovo Sugar Malawi Limited has increased the prices of sugar.
According to a statement from Illovo, the sugar prices have been increased by 11 % from October 3.
The price of one kilogram of sugar which was selling K129 in retail supermarkets has been increased to K133.
One kilogram packet of brown sugar is now up to K125.
Meanwhile, Illovo public relations officer Ireen Phalula has justified the increase saying it was triggered by rising inflation, devaluation of the Malawi kwacha against the South African rand and rising sugar prices on the world market.
“The government inflation is mainly attributed to the cost of food whereas in our case we factor in the transportation cost,” Phalula told The Nation newspaper.
hey didnt know that sugar is that expensive back home,ndiyenso simene athu athilira suga mu tea.I remember used to buy a packet of sugar for like 20kwacha,mbaya ine watu kukaya wati uli mumamizimo.
Anyway, the increase is not bad, but we should also be told what has neccesiteted(sp) the increase.
The kwacha has not been devalued. The Fuel price has not been increased. So can Illovo tell us why they have increased.
Is it cost of importing goods? Should we hurry with the shire zambezi waterway? We need answers Illovo. Dont take Malawi for granted.
Thats about 50 pence right! not bad
People in Malawi receive their salaries/wages in Kwachas not Pounds! I am also in diaspora but I can make such careless utterance! Just wait till you get back to Malawi and start earning Kwachas!
koma abale inu
divide the 50 p by the hourly wage, en do the same ku malawi en see the diff. expnsv in mw
11% increase and you say it is not bad? What kind of people are you, greedy gluttons? Think about an ordinary household at Chididi in Nsanje and Damasika in Chitipa when commenting on increase of prices of basic commodities like sugar, soap etc.
Illovo is trying to say that the value of the Kwacha is artificial and this is very dangerous. Kamuzu did not pay lip service to the value of the Kwacha which bore his portrait but kept the prices of basic commodities at bay as well for the good of an ordinary man and woman in the village.
I like tea so much-dont blame me its genetic hahaha!
Bingu should explain to nation about price increase. What really happened to the price increase while the economy is stable. he owe us malawians. sugar is a basic need no matter what. lets learn realties in life.
I said this same thing six months ago because I had seen the paperwork of this quandary.
Next will be fuel- to go up and there will be another shortage of foreign currency.
Did you know that another villa has been bought in Portugal???
Hm!!!
Akuti Ngwazi… mudzalila mukadzadziwa zenizeni.
I agree with charity. Illovo need to justify its increase otherwise they are ….. Koma ngati mwangopangilamo ndiye Bingu simmuziwatu, akuthamangisani ku Malawiko. By the way, who owns Illovo?
Nyasatimes, an increase from $129 to $133 is not 11%, its like 3%. 11% would have increased to $143. So is it 3% or 11%, there is a major difference between the two figures.
If it is 3%, then this is reasonable. If 11% it is too high by most Malawians and an explanation should be provided to the Malawi community as to why they have been slugged.
James Malizani, reasonable is a relative word.
You are not in Malawi to see the massive frustration of the hard-working rural people.
Remember, Malawi’s economy is based on distribution and not farming.(More national revenue is realised from distribution activites and not farming activities- this is a well known fact although our myopic politicians deny this fact)
The local resources we are producing are not even enough to feed the demand.
The best thing we are experiencing is that there is an influx of finished foreign goods flocking to the Malawi local market and anthu akuti dziko likutukuka. TOO DAMN !!
Do you remember when PRODUSAK used to make hesian sacks?? Now we are importing hesian sacks from China. Zowona zimenezo in a country where the economy is said to depend on agriculture???
Our economy is too weak because we are not production focused. We need basic industrialisation and not massive warehouses as the case is.
Therefore any slight increase in the prices of locally produced goods will further spill the inflation figures off the mark and way out of control.
Now watch (in five months- max) how fuel prices, transport fares, building costs and food prices will go up after the weak Kwacha is slammered down further this coming February.
Amwenye akugula foreign currency ngati mtedza. We are exchanging £1 for MK300 panopa. The lowest we can get is MK260 for £1.
Remember, its like a deck of upright cards. Knock one down and the others will follow, pilling up.