Ministry of Trade orders Illovo Sugar Company to reduce sugar prices within a week
Ministry of trade and Industry has ordered Illovo Sugar Company to reduce sugar prices within a period of seven days from 14th June 2023.
This follows a series of concerns from various stakeholders including consumers on high cost of sugar.
In a statement following a meeting with the company, minister of Trade Simplex Chithyola says the reduction of sugar is for the benefit of consumers and companies that use the product as its raw material.
Chithyola warned that if the company does not comply within the set period, the ministry will be compelled to award import licenses to more industry players to cushion the price of the commodity.
While appreciating the outcome of the discussions, the minister hopes for a continued cooperation with the company for a more inclusive and prosperous Malawi.
