By Eutychus Yamikani
Illovo sugar Malawi limited has announced the increase in prices of their product with an average of 8 percent.
According to Illovo public relations officer Irene Phalula the hike has been a result of fundamental market changes including inflation, price of electricity and depletion of the kwacha against the US dollar among others.
Phalula said since the last revision of sugar prices in November last year, a lot of things have changed in terms on labour, packaging material and fertilizers which have affected the whole production cost. This means that 20 packets of brown sugar each weighing 1 kg will now be bought at K13, 054 as white sugar will now be selling at K13, 320. These tough measures by the country’s only reliable sugar manufacture come barely after the presentation of over k1trillion budget by government.