Sugar prices drop to sh4,000
THE price of sugar around Kampala has gone down with retailers selling at between sh4,000 and sh6,000 per kilo, down from sh7000.
By Vision reporters
THE price of sugar around Kampala has gone down with retailers selling at between sh4,000 and sh6,000 per kilo, down from sh7000.
However, in upcountry towns like Fort Portal, a kilo of sugar was still selling at between sh8,500 and sh10,000.
The decline in sugar prices has followed the Government announcement that 40,000 metric tonnes will soon be imported tax-free. Government has, however, said it will not prohibit export of sugar from Uganda.
Sugar shot up last week following a slack in production, causing panic among consumers.
According to a New Vision survey yesterday, sugar prices had gone down in Nakawa and Bugolobi markets.
Phiona Twebaze, a retailer at Nakawa Market, said a kilo was selling at sh5,300, down from sh6,000 last week. At God’s Gift shop, the price was sh4,000.
Several retailers said the price hike had been worsened by hoarding of sugar by traders in Kikuubo, the main wholesale market in Kampala.
They said the price started to drop following President Yoweri Museveni’s visit to Kinyara and Kakira sugar factories at the weekend.
Susan Nalukenge, a store manager at Arua Park, said a 50kg bag of sugar went down from sh260,000 to sh160,000.
The New Vision team discovered that Capital Shoppers and Shoprite supermarkets had run out of sugar but were expected to restock soon.
In Jinja town, the price of sugar had dropped to sh4,500 per kilo from sh6,000 last week. However, some traders maintained the sh5,000 price, saying they wanted to clear the old stock before adjusting the price to avoid making losses.
In Mbarara town, sugar was at sh5,500, down from last week’s sh6000. Traders with a new stock were, however, selling at between sh5,000 and sh5,400.
Meanwhile, in Lira town, several shops seemed to have stopped stocking sugar since the price shot up. Most wholesale dealers had resorted to selling other commodities. By yesterday, a 50kg bag of sugar was going at sh250,000, while retailers were selling a kilo between sh5,500 and sh6,000.
In Gulu, the price instead shot from last week’s sh6,500 to sh7,000 yesterday. Some traders said they did not know the reason behind the price hike but were only charging an extra sh1,000 per kilo to make a profit.
Yumbe and Koboko districts saw a decline from sh6,500 to sh6,000 yesterday. However, in Arua, the price had for days remained at sh5,000.
Fort Portal recorded the highest sugar price. While a kilo of sugar was being sold at sh7,500 last week, by yesterday the price had shot to between sh8,500 and sh10,000.
Beatrice Nyakajo, a shop attendant, said they had increased the price due to the high cost of transporting sugar from Kampala.
President Museveni on Saturday announced that the Government would allow controlled sugar imports for six months to address the current scarcity.
By Darious Magara, Simon Masaba, Miriam Ochakolong, Pauline Nabumba, Charles Kakamwa, Fred Turyakira, Vien Obote and Hope Mafaranga
THE price of sugar around Kampala has gone down with retailers selling at between sh4,000 and sh6,000 per kilo, down from sh7000.
However, in upcountry towns like Fort Portal, a kilo of sugar was still selling at between sh8,500 and sh10,000.
The decline in sugar prices has followed the Government announcement that 40,000 metric tonnes will soon be imported tax-free. Government has, however, said it will not prohibit export of sugar from Uganda.
Sugar shot up last week following a slack in production, causing panic among consumers.
According to a New Vision survey yesterday, sugar prices had gone down in Nakawa and Bugolobi markets.
Phiona Twebaze, a retailer at Nakawa Market, said a kilo was selling at sh5,300, down from sh6,000 last week. At God’s Gift shop, the price was sh4,000.
Several retailers said the price hike had been worsened by hoarding of sugar by traders in Kikuubo, the main wholesale market in Kampala.
They said the price started to drop following President Yoweri Museveni’s visit to Kinyara and Kakira sugar factories at the weekend.
Susan Nalukenge, a store manager at Arua Park, said a 50kg bag of sugar went down from sh260,000 to sh160,000.
The New Vision team discovered that Capital Shoppers and Shoprite supermarkets had run out of sugar but were expected to restock soon.
In Jinja town, the price of sugar had dropped to sh4,500 per kilo from sh6,000 last week. However, some traders maintained the sh5,000 price, saying they wanted to clear the old stock before adjusting the price to avoid making losses.
In Mbarara town, sugar was at sh5,500, down from last week’s sh6000. Traders with a new stock were, however, selling at between sh5,000 and sh5,400.
Meanwhile, in Lira town, several shops seemed to have stopped stocking sugar since the price shot up. Most wholesale dealers had resorted to selling other commodities. By yesterday, a 50kg bag of sugar was going at sh250,000, while retailers were selling a kilo between sh5,500 and sh6,000.
In Gulu, the price instead shot from last week’s sh6,500 to sh7,000 yesterday. Some traders said they did not know the reason behind the price hike but were only charging an extra sh1,000 per kilo to make a profit.
Yumbe and Koboko districts saw a decline from sh6,500 to sh6,000 yesterday. However, in Arua, the price had for days remained at sh5,000.
Fort Portal recorded the highest sugar price. While a kilo of sugar was being sold at sh7,500 last week, by yesterday the price had shot to between sh8,500 and sh10,000.
Beatrice Nyakajo, a shop attendant, said they had increased the price due to the high cost of transporting sugar from Kampala.
President Museveni on Saturday announced that the Government would allow controlled sugar imports for six months to address the current scarcity.
By Darious Magara, Simon Masaba, Miriam Ochakolong, Pauline Nabumba, Charles Kakamwa, Fred Turyakira, Vien Obote and Hope Mafaranga