Sugar prices rise as Kakira overhauls
PRICES of sugar in and around Kampala have shot up, leading to some dealers into starting to hoard it in order to make a bigger profit on their sales
PRICES of sugar in and around Kampala have shot up, leading to some dealers into starting to hoard it in order to make a bigger profit on their sales, reports Ricks Kayizzi.
Around Kikuubo, Kampala’s main trading hub, and the New Taxi Park, a 50-kilogramme bag now has no fixed price. At Christex Stores in Kikuubo, a bag of Kakira sugar was selling as high as sh62,000, up from sh50,000 one month ago. Kinyara sugar was at sh61,000 up from sh4800 four weeks ago.
The scarcity of sugar on the local market, which has led to the rise in retail prices by sh100, from sh1300 per kilo two weeks ago to sh1,400 per kilo, has however, been blamed on the closure of Kakira Sugar Works for maintenance.
“Kakira usually stocks enough sugar when going for their annual maintenance work, but this happens not to be the case this time around,†said a trader at Christex Stores, who identified herself only as Sarah.
At the New Taxi Park, some traders were selling Kakira sugar at sh64,000 and sh63,000 for Kinyara sugar per 50-kilo bag. “For delivery of Kakira sugar from our suppliers, we have to place orders a week in advance in order to get a delivery of a few bags,†said another trader who preferred anonymity.
Around Kikuubo, Kampala’s main trading hub, and the New Taxi Park, a 50-kilogramme bag now has no fixed price. At Christex Stores in Kikuubo, a bag of Kakira sugar was selling as high as sh62,000, up from sh50,000 one month ago. Kinyara sugar was at sh61,000 up from sh4800 four weeks ago.
The scarcity of sugar on the local market, which has led to the rise in retail prices by sh100, from sh1300 per kilo two weeks ago to sh1,400 per kilo, has however, been blamed on the closure of Kakira Sugar Works for maintenance.
“Kakira usually stocks enough sugar when going for their annual maintenance work, but this happens not to be the case this time around,†said a trader at Christex Stores, who identified herself only as Sarah.
At the New Taxi Park, some traders were selling Kakira sugar at sh64,000 and sh63,000 for Kinyara sugar per 50-kilo bag. “For delivery of Kakira sugar from our suppliers, we have to place orders a week in advance in order to get a delivery of a few bags,†said another trader who preferred anonymity.