Price to stabilise as supply improves, says sugar board

Dar es Salaam. The sugar board of Tanzania (SBT) is still optimistic that sugar price will be stable in the next two weeks as the suppliers continue to provide the commodity at affordable price.
SBT director general, Mr Mathew Kombe, says market trends during the past two weeks bring hope of price stability.
“I have seen even an advert by a supplier showing that sugar was available at affordable price.....this creates a feeling that there is no holding of stock,” said Mr Kombe.
Although some suppliers claim to be availing the product at a wholesale price of Sh1,500 per kilogramme, the same measurement of sugar still fetches between Sh1,800 and Sh2,200 in most retail shops.
There have been some claims that some suppliers are holding sugar stocks, hence creating an artificial shortage in a deliberate move to milk more from consumers.Recently, the government issued permission for suppliers to import some 50,000 tonnes of sugar at duty free.
12,500 tonnes were expected to be imported from within the East African Community member states while some 37,500 tonnes are to be sourced from Malawi and Madagascar.

However, until yesterday the sugar board said it had no any information of any imported sugar since last month.
Tanzania major sugar producers include Tanganyika Plantation, Kilombero, Mtibwa and Mbeya sugar companies.

(Source: http://thecitizen.co.tz/business/13-local-business/9121-price-to-stabilise-as-supply-improves-says-sugar-board.html)