CFTC denies failure to safeguard consumers on sugar pricing

Competition and Fair Trading Commission CFTC has disputed reports that it is failing to safeguard consumer welfare with regards to sugar pricing.

This follows accusations from various quarters of the society including Consumers Association of Malawi which said CFTC is failing its duty by not controlling pricing of sugar by Illovo Sugar Company which is making supernormal profits at the expense of Malawians.

Reacting CFTC says it is working tirelessly within the dictates of competition and fair trading as well as consumer protection Acts to protect consumers.

CFTC public relations officer Innocent Helema said the commission has investigated and concluded several cases in relation to sugar market

However Helema says has not conducted investigations on assertions that Illovo sugar is creating barriers of entry to the market because has never received complaints on the matter.