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Sugar prices drop Sh20 as unsold factory stocks rise
Thursday May 20 2021
By GERALD ANDAE
Summary
Unsold stocks of sugar in factories have gone up more than five times the required limit, cutting consumer prices by Sh20 on a two-kilogramme packet.
Sugar directorate said there is an average of 12,000 tonnes of sugar daily that are held by millers, against 2,300 requirement.
Head of the Sugar Directorate, Rosemary Owino said the country is projected to record 660,000 tonnes of sugar this year against 603,788 that was realised in 2020.
Unsold stocks of sugar in factories have gone up more than five times the required limit, cutting consumer prices by Sh20 on a two-kilogramme packet.
Daily Monitor
Saturday January 23 2021
Rwanda, Kenya and Tanzania have all, for at least two years, blocked Uganda’s sugar from entering their markets. PHOTO/FILE.
Summary
Tanzania, Kenya and Rwanda have all blocked sugar exports from Uganda, worsening stockpiles.
According to media reports, Uganda Manufacturers Association (UMA), said Uganda had more sugar than what actually Kenya intends to import.
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Sugar exports have dropped by Shs108b, representing a 35 per cent decline in earnings in the last three years, according to data from Bank of Uganda.
The decline, data indicates, could have been occasioned by export blockades placed on Uganda’s sugar by East Africa member states on claims of dumping.