The Ministry of Trade and Industry has announced an improvement in the availability of sugar nationwide, urging vigilance against the collusion between wholesalers and street vendors to hike prices.
This update follows a series of inspections by the Ministry and the Competition and Fair Trading Commission (CFTC) in various districts to assess the sugar market situation.
Christina Zakeyo, Secretary for Trade and Industry, affirmed in a press release that sugar stocks are rising. However, there are concerning reports of wholesalers and distributors using street vendors to inflate sugar prices unfairly.
The Ministry sternly warned that such practices contravene the Competition and Fair Trading Act and could lead to severe penalties, including the revocation of business licenses or closure of premises.
“Engaging in activities that lead to exorbitant sugar prices through street vendors is not only against our fair trading laws but also betrays the agreements made between distributors and manufacturers,” the statement read.
Furthermore, the Ministry, in cooperation with law enforcement, pledged to crack down on vendors who exploit this arrangement to overcharge consumers.
The public has since been encouraged to remain alert and report any instances of overpricing or other suspicious activities, ensuring fair trading standards are upheld across the marketplace.
