Sugar Imports Double In The first Two Months Of 2019

cropped-leaderboard-ad

 

Imports of sugar into Kenya doubled in the first two months of 2019 compared to the same period of the previous year due to a decline in local production.

According to the Sugar Directorate, between January and February stood at 64,050 tonnes compared to 31,884 that was realized in the same period last year, a decrease of 15%.

“Total sugar production in January – February 2019 was 99,199 tonnes compared to 116,654 tonnes achieved in the same period last year, representing a drop of 15 percent. This decrease in production was recorded in most of the factories,” says the directorate.

 

Imports of table sugar amounted to 15,772 tonnes, while refined white sugar amounted to 11,603 tonnes, indicating an increase in demand for the product. The sugar price averaged 4,082 Sh at the beginning of 2019, before falling to one in February Value of 3,868 Sh (50 kilos) sagged.

“The fall in sugar prices ex-works is due to increased competition from cheap products. Sugar imports in the market are causing local factories to lower their price on sales,” says the Board.

The Directorate notes that the average ex-factory sugar price in February 2019 was five percent lower than the monthly average in January.

Total sugar sales during the period under review decreased to 102,715 tonnes, compared to 108,257 tonnes sold in the same period last year of five percent.

The regulator says the factory is priced as of August 2018. Since August 2018, the price of ice has steadily declined, reaching a high monthly average price of $ 6,024 per bag.

cropped-leaderboard-ad

LEAVE A REPLY

Please enter your comment!
Please enter your name here