Price Of Sugar Shoots Up
Zimbabweans will be dismayed to learn that the price of sugar has gone up. This comes after the last couple of weeks which were marked by a severe shortage of sugar on the market.
Sugar was largely unavailable in most supermarkets around Harare. iHarare noted that the few shops that did have sugar only had the Old Fashioned Brown Sugar variety which was retailing for ZWL 50 for a 1-kilogram packet. However, sugar was available in the downtown area in the ‘tuckshops’ where it was selling for anything between ZWL$160 and ZWL$200 for a 2 kilogram packet.
Sugar Producer Tongaat Hulett increased the price of sugar effective 26 May 2020. According to the new price list, a 1 kilogram packet of Brown Sugar will now retail for a minimum of ZWL $63.84 while a 2 kilogram packet of brown sugar will retail for a minimum of ZWL $127.68.
A 1 kilogram packet of refined white sugar will now retail for ZWL $67.21 while a 2 kilogram packet of white sugar will retail for ZWL $134.42.
Using the government’s official foreign currency exchange rate, this means that a 2 kg packet is going for a massive US$5.20 (R91).
Below is the latest price list from Tongaat Hulett.
The new sugar prices follow a turbulent few weeks in which the Zimbabwe Dollar has deteriorated against major currencies. The new prices seem to indicate that the sugar producers are using the street rate to come up with the new sugar prices. The Zimbabwe Dollar is currently trading at a rate of ZWL$25: US$1 on the official market and anything between ZWL$55 and ZWL$70 to US$1 on the parallel market.
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