25.2 C
Saturday, June 15, 2024

Kenya’s Sugar Pricing Committee Cuts Cane Costs By 2%

Must read

Kenya’s Sugar Pricing Committee has applied a two % discount within the value of sugarcane, responding to a concurrent lower in the price of the commodity on the retail market.

In the latest evaluation, the committee, mandated with periodically assessing sugarcane costs, revised the fee from Ksh6,050 per tonne to Ksh5,900.

Jude Chesire, the pinnacle of the Sugar Directorate, cited a notable decline in retail sugar costs because the driving issue behind this adjustment.

“The numerous drop in sugar costs on the shelf prompted the committee to decrease the price of sugarcane per tonne,” mentioned Mr Chesire to Enterprise Day Africa.

To find out the sugarcane price, the committee considers prevailing sugar costs and ex-factory charges, aiming for equitable returns to each growers and millers.

The committee contains representatives from varied entities, together with AFA, the Ministry of Agriculture, farmers, millers, and sugar-producing counties.

Agriculture Cupboard Secretary Mithika Linturi identified final month that sugar costs had considerably decreased resulting from government-initiated measures.

These measures included boosting imports to boost native provide and bettering the effectivity of home millers.

Presently, a two-kilogramme sugar packet is out there at Ksh399, down from Ksh450 in August of the earlier 12 months.

The decline is attributed to elevated native sugar manufacturing facilitated by the Agriculture and Meals Authority (AFA), which permitted sugar factories to completely resume operations final December.

In July final 12 months, the regulatory physique imposed a four-month ban on cane milling to permit the crop within the fields to mature earlier than resuming manufacturing.

This resolution coincided with India, a serious world sugar producer, imposing export restrictions to safeguard its native shares amid a worldwide scarcity that escalated sugar costs.


- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article