Illovo Sugar (Malawi) Limited has hiked the price of sugar by eight percent effective Thursday 2nd, June 2016.
The company has attributed the increase to fundamental market changes including inflation, electricity pricing and the depreciation of Kwacha, among others.
Illovo PRO Ireen Phalula said the company is implementing cost-cutting measures to mitigate the impact of the price adjustments on the consumer.
Following the adjustment, now a bale of 20 packets (1kgs per packet) of brown sugar will be sold at K13,054.99 while a bale of white sugar (2kgs per packet) will be sold at K13,320.61.
For a bale of 10 packets of brown sugar, buyers will be paying K13,106.25 and white sugar will be sold at K12,840.63.
Malawians should brace for varied price adjustments on sugar by retailers.