HARARE – Sugar prices doubled this week, just days after shortages were reported countrywide.
Tongaat Hulett, which accounts for 80 percent of Zimbabwe’s total sugar production, announced new wholesale and retail prices for sugar in a public notice on Monday.
The new recommended retail price for 2kg of white sugar is RTGS$10.44, up from RTGS$5.20, the Johannesburg Stock Exchange-listed company announced.
Tongaat is the latest producer to raise prices as the local RTGS dollar continues to plunge against the United States dollar, the currency which most companies use to purchase spares and other materials.
Tongaat also doubled prices for 1kg of white sugar to RTGS$5.22, 5kg to RTGS$26.10 and 10kgs to RTGS$52.20.
At least 65 percent of the sugar Tongaat produces in Triangle and Hippo Valley is for domestic consumption while the rest is for export.
Last week, sugar producers took out space in newspapers to insist that the market was sufficiently supplied with the products after long queues formed outside shops around the country.
Rising commodity prices and stagnant salaries are fuelling resentment against the government of President Emmerson Mnangagwa, which has placed police on a high alert fearing imminent opposition and labour protests.
