Illovo Sugar Company, Malawi\’s sole producer of sugar, has announced a 13 percent increase in the price of the sweet product with immediate effect, APA learnt here Tuesday.
Due to the increase, the factory price of one kg of white sugar is now pegged at 120.46 Malawi kwacha or 0.95 US cents. Local traders have pushed this to MK140 (US$1) and above.
Illovo Public Relations Officer Irene Phalula said on Tuesday the company had decided to increase the sugar price due to rising input costs such as fuel, fertiliser and packaging materials on the international market.
“These are the main factors that have led to the price increase of the sugar,\" she said.
Tuesday, 7 October 2008
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