Malawi Broadcasting Corporation
Business Local

Ministry cracks whip on errant sugar wholesalers

The Ministry of Trade and Industry has sealed some sugar selling outlets in Lilongwe and warns that it will continue to close such outlets across the country if found to be overcharging sugar.

A statement signed by Secretary for Trade and Industry, Christina Zakeyo, says the development follows a joint inspection conducted by the ministry and the Competition and Fair-Trading Commission (CFTC) following reports of general sugar scarcity on the market.

Sealed sugar wholesale outlet

 

The ministry adds that some traders are taking advantage of the sugar scarcity to sell the product beyond the recommended prices by the manufacturers.

“The joint exercise confirmed that some wholesalers are selling a 20 kg bale of Illovo Sugar at K69,000 which is way far much higher than the manufacturer’s recommended price of K37,500.

One of the sealed sugar wholesale shops 

 

“The sealed shops are Romana Trading and Chou Chou shops in Area 2 (Bwalo Lanjovu) and Shalom Shop in Area 25 (Nsungwi) because they were selling their sugar at exorbitant prices,” reads the statement in part.

The statement further says Simama General Dealers in Area 25 (Nsungwi) has also been closed for hoarding sugar.

According to the ministry, the recommended wholesale price for sugar is K37,500 per 20 kg bale and the retail price per 1 kg packet is K2,250.

Reported by McDonald Chiwayula.

#mbconlineservices

Print Friendly, PDF & Email

Related posts

MATEMBA BACK IN COURT

MBC Online

MCP DIASPORA NETWORK READY TO SUPPORT MEGA FARMS INITIATIVE

MBC Online

Suleman off the hook as Malango withdraws impeachment motion

Olive Phiri
error: All Content is protected. Copyright © 2022. Malawi Broadcasting Corporation. All Right Reserved.