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.
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.
“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.
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