Sugarcane stakeholders mull over pricing committee
Farmers have demanded that millers pay Sh5,900 per ton of cane as ordered by court but millers are advocating for Sh5,100.
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Farmers have demanded that millers pay Sh5,900 per ton of cane as ordered by court but millers are advocating for Sh5,100.
The Sugar Bill introduces a four percent Sugar Development Levy on both domestic and imported sugar.
Consumers are now paying 15 percent more for a one kilogramme (kg) packet of sugar following decisions by Illovo Sugar (Malawi) plc and Salima Sugar Company to increase prices yesterday. While the sugar manufactures say the price review is arising from soaring production costs, but the Competition and Fair Trading Commission (CFTC) says it will
Say they should be left to sell to millers of their choice who offer them better prices and pay promptly.
Failure to conform to the directive risks a Ksh10 million fine, a ten-year jail term or both.