Illovo hikes sugar prices

Illovo Sugar Company has revised sugar prices upwards effective today.

A statement by the company’s managing director Lekani Katandula indicates that brown sugar is now at 2,600 kwacha up from 2,300 kwacha while a kilogram of white sugar has jumped to 2,950 kwacha from 2,600 kwacha.

The adjustment has been attributed to increased cost of materials for sugar production and transportation among other things.

“We thought of hiking the prices after looking at the cost of production. We want to sustain our business as a of of resources’ price have gone up,” he said.

He has also pointed out increased dollar prices as another contributing factor.

Reacting to the development, Centre for Democracy and Economic Development Initiatives executive director Sylvester Namiwa believes this is an insult to Malawians who are already suffering.

Namiwa is therefore demanding for a ‘concrete’ justification from the Illovo Sugar Malawi on its action.

“Also, government should come in and protect Malawians this time around,” he explained.