Local sugar manufacturer Illovo Sugar Malawi has resumed production of the commodity, a situation which will see supply normalising within the next two weeks, says the company.
In an interview on the sidelines of the Business Leaders’ Summit in Mangochi last week, Illovo Managing Director Lekani Katandula said the company resumed production of sugar at its Nchalo factory last Monday and in Dwangwa last Wednesday.
He said from last Thursday and Saturday, the company has dispatched tracks of sugar for the local market.
“We start a bit slowly and ramp up because we still fine-tuning the factory after major off-crop maintenance. So, we are ramping up our production but, within two weeks of this start, I expect that Malawi will be fully supplied with sugar in all corners and we should see those exorbitant prices coming down to our recommended retail prices,” he said.
He said the company will also focus on supplying the international market to earn foreign exchange and meet its foreign liabilities.
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Prices of sugar went up by between 53 percent and 105 percent reaching K4, 000 per kilogramme (kg) due to persistent shortage of the commodity on the market.
In some parts of Rumphi and Mzimba, a kg is fetching K4, 000 while in most parts of the Central Region the same quantity is being sold at between K3,600 and K3,900.
In most parts of the Southern Region, retail shops are selling it at between K3, 000 and K3, 400 per 1kg packet.
Before sugar supply shortages hit the market, a 1kg packet was selling at K1, 950.
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Recently, Illovo increased prices of sugar by 17.9 percent, where a 1 kg packet of brown sugar will now be sold at K2, 300.
