Illovo Sugar Malawi Limited has hiked the prices of Sugar by nine percent effective Monday 29, 2017, Faceofmalawi can reveal.
Illovo Sugar Public Relations Officer Irene Phalula confirmed of the development in an interview with FOM’s reporter.
According to Phaula, a 1kg packet of both white and brown sugar is now selling at MK778.22 from MK750.
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.
Phalula said new prices are in respect to the forces that regulate the price of the commodity in the country.
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.