Tongaat Hulett Zimbabwe has nearly doubled the price of brown sugar effective today a move meant to keep pace with the inflationary pressures in the market.
Sugar has been in short supply over the past several days with consumers suspecting that a price hike is imminent. The last increase in sugar pricing was last done in March this year. According to a new price table from the sugar producer, a 1kg packet of brown sugar now costs ZWL$63.84 from ZWL$32.58 while a 2kg packet is now selling at ZWL$127.68 from ZWL$65.17. Also, a 5kg is now going for ZWL$319.20 and 10kg at ZWL$638.40.
In the same vein, the pricing table shows that a 1kg packet of white sugar increased by 96 percent to ZWL$67.21 from ZWL$34.29. A 2kg packet went up by 96% to ZWL$134.41 from ZWL$68.57 previously.
A 5kg and 10kg packet is now selling at ZWL$336.04 and ZWL$672.09 respectively. Confederation of Zimbabwe Retailers Association president Denford Mutashu said the impact is multifaceted.
“Sugarcane growers and the company will attempt to crawl out of the current cost buildup quagmire and improve supply. Consumers definitely are hit hard as it’s not only sugar price that will pinch their pockets but other products that use sugar as raw material like cordial drinks,” he said.
The increase in price of sugar is not surprising as hyperinflation and foreign currency woes bite the economy and the poor, he added.</div>