Sugar prices have risen by about nine t percent effective Monday due national equalisations scheme, according to Illovo Sugar (Malawi) Limited.
Illovo public relations officer Irene Phalula said there are justifiable factors that drive sugar prices in Malawi.
The price for 50 kilogrames of brown bulk will be at K37 221.75 per bale while white bulk will be at K37 571.25 per bale. This means consumers will be paying K15 263.60 per bale for 10 packets of two KG each for both white and brown pre-pack, according to the statement.
There has been fears that Illovo is not producing enough sugar to meet the local demand as consumers experience shortage of sugar on the local marke but Phalula dismissed that assertion.
She was upbeat that with the new cane growing well at both Nchalo and Dwangwa estates and a planned purchase of over 420 000 tons of sugarcane from around 3 700 smallholder farmers, Illovo anticipates a satisfactory 2017/18 milling season with more than sufficient production of sugar to cater for both domestic and export demand.
Illovo Sugar Malawi is the country’s major supplier of sugar producing around 270 000 tons of sugar annually with over 60 percent sold on the domestic market.Follow and Subscribe Nyasa TV :