Up goes sugar prices as Malawi Kwacha dip
Malawi consumers will have to dig deeper into their pockets again to buy sugar following an eight percent price hike by Illovo Sugar (Malawi) Limited. due to the weakening kwacha against major trading currencies.
The kwacha has lost over 25 percent of its value since early September this year, to trade at around K520.
Illovo Sugar Malawi, the country’s main sugar producer, said key drivers to price adjustments are normally currency movements, inflation, increase in cost of fuel and other major commodity input costs like electricity.
“The marked depreciation has a direct impact on the input costs of the company, which are largely foreign exchange-based since most of the non-cane raw materials that are used in the production of sugar are imported,” reads the statement in part from the sugar producer.
The losing value of the kwacha and the cost of borrowing, prices of commodities have already shot through the roof, making living extremely tough for ordinary Malawians.
Anyani inu mukulira chani mesa ndi mmene anazisiira mkulu wake inu mumati amayi anapanga zopanda ntchito???
ADEAD COUNTRY
Pitala, brlo la brown sugar mpaka K25,000? 50 kg? Zija umanamiza anthu lero ku lilongwe zija ndiza mkhutu, zopanda nzeru ndi pang’ono pomwe mtheradi.
Ndizimene munkafuna kuvotera chipani chakuba musanalire mukhaula
DZIKOLI LINGOKHALA NGATI ENI AKE ANACHOKAPO!!!!!!!!!!!!!!!!
Thats the DPP government we always know and will always remember. There are no news of hiking products and consumables but you will one day pay for all this mess. What happens to a prebian? 1. He is always on the losing side, why? (i) When producers import raw materials at an extra cost (hiked), the cost goes directly to a consumer ( a commoner in town and villages) nothing do they lose. 2. When government impose sanctions on taxes and other related issues to raise money for cashgate the producers will just smile as they themselves hike prices again,… Read more »
kulira kuipo ndipo mkosayamba,so help us God.
Kuyipa kobera mavoti ndi {1} dziko….
ndiye mmene chithere chaka
koma tilimba?