Illovo Sugar Company has hiked prices of their products, barely a few days after the local currency lost value by 25%.
According to a statement issued by Illovo, the new prices are effective today, 30th May, 2022.
The new prices will see consumers coughing K1,100 per kilogram of brown sugar from K900, whereas a Kilogram of white sugar will be trading at K1,150 from K930.
Prior to the rise in prices of sugar, a Kilogram was trading at less than K900. This has raised fears of a rise in the cost of other products.
Malawians are reacting angrily to the development. They believe the rise in the cost of living will make life worse for the citizenry.
Speaking in an interview with Mij Online, the company’s Managing Director Lekani Katandula has alluded the revision to rise in the cost of some inputs.
These inputs are fertilizer, fuel, electricity, and cost of growing sugarcane.
“Where is this nation heading? I fear for the worst if prices of commodities will be beyond reach for Malawians,” commented Dyson Phiri
Another comment by Kinto Kakuda reads, “Our funeral has just began. The end is here. Nyimbo ikhale 371, Kwathu sipadziko (Lets sing the song, the earth is not my home).
Follow us on Twitter: