Illovo Sugar Malawi says it will maintain the current sugar prices in the country.
Managing Director of Illovo Sugar Lekani Katandula says the price of sugar in Malawi is lower compared to prices in neighboring countries.
Katandula made the remarks during a public inquiry into sugar production and pricing by Parliamentary Committee on Industry, Trade and Tourism.
The inquiry comes following a general outcry over high prices of sugar with people asking government to intervene and help bring down sugar prices
The Parliamentary Committee on Industry, Trade and Tourism summoned officials from Illovo Sugar, Ministry of Trade and the Malawi Revenue Authority.
Appearing before the committee Katandula said Malawi sugar is cheap and the company has no plans to reduce the prices. He said it is even necessary to increase the prices to avoid cases of exporting sugar to other countries.
Principal Secretary in the Ministry of Trade Christina Zakeyu however insisted that prices of sugar in the region are lower than prices offered by Illovo Sugar Company.
Zakeyu said the ministry is still negotiating with Illovo Sugar and other stakeholders but also added that the ministry is now issuing sugar import licences to other traders as a way of introducing competition in the industry and bring prices down.
Chair for Parliamentary Committee on industry, trade and tourism Paul Nkhoma said the committee will see the way forward on the issue as they have heard from the concerned parties.-(Credit: Olive Phiri and Madalitso Mhango, MBC Online)
