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OpenZimbabwe Sugar Association Speaks On Shortage, Price Hike
The Zimbabwe Sugar Association (ZSA) has allayed fears of a shortage of sugar in the country saying it has adequate sugar stocks for local consumption.
This follows reports that some “unscrupulous” retailers have hiked the price of sugar from roughly US$2.60 to US$4.00 for a 2kg packet.
In a statement issued on April 11, 2024, ZSA chairman Willard Zireva the available sugar stocks are adequate to meet normal local demand, and also, the cane milling season resumes this month, thereby guaranteeing the availability of sugar. Said Zireva:
The Zimbabwe Sugar Association advises all stakeholders and the general public that the recommended unit shelf price of table sugar remains unchanged at US$2.60 for wholesale and US$2.76 for retail of SunSweet, with Gold Star white sugar retailing at US$2.80 per 2 kg unit.
The Zimbabwe Sugar Industry currently holds adequate sugar stocks for local consumption. The demand for sugar will spike as a result of the operating environment and speculative behaviour by some market players. However, despite these factors, the stocks on hand are adequate to meet normal local demand.
The cane milling season resumes mid-April, only a week away, and this will further boost the existing stocks of sugar.
The Zimbabwe Sugar Industry remains ready and able to meet the demand for sugar now and into the future.
Yesterday, Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu acknowledged the unjustified price hikes of sugar on the local market.
He said there is a shortage of sugar on the market emanating in part from retailers’ and wholesalers’ failure to access the product from the supplier.
Mutashu urged police and the Financial Intelligence Unit (FIU) to clamp down on traders selling sugar at exorbitant prices.
More: Pindula News
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