Tuesday, January 19, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

71% Illovo sugar exported to Zimbabwe

by Johnny Kasalika
25/08/2012
in Business News
2 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

Sugar aug24 | The Nation OnlineThe Zimbabwean market accounted for 71 percent of all of Illovo Malawi Limited’s regional sales, according to the company’s annual report for the year ended March 31 2012.

RelatedHeadlines

RBM upbeat on inflation outlook

IMF head, economist differ on spending

Budget deficts to persist—economists

The report indicated that Kenya, Tanzania and Uganda got the rest of the sugar that was sold within the region, which amounted to 35 000 tonnes against the previous year’s 49 000 tonnes.

At the company’s Annual General Meeting (AGM) held last Friday in Blantyre, the company’s chairperson, Graham Clark, pointed out that over 80 000 tonnes of sugar was exported to Europe and the USA.

“Advantage was taken of good prices on offer for the balance of the sugar in excess of local market demand with over 80 000 tonnes exported to Europe and the USA. More than 37 000 tonnes of refined and speciality sugar was exported to Europe for direct consumption whereas t 45 000 tonnes of raw sugar was exported to European refiners.

“Sales into the direct consumption USA market totalled 5 000 tonnes. These exports provided the country with much needed foreign currency and assisted the company in maintaining its operational requirements,” said Clark.

According to the report, total sugar exports during the year jumped by about 16 percent, amounting to approximately 124 000 tonnes against the previous year’s total of 107 000 tonnes.

“Market conditions were characterised by strong demand from European importers who recognise Malawi’s quality standards and ability to deliver contracted consignments on time,” reads the report.

Domestic sugar sales volumes for the year under review were similar to the previous year’s, totalling 168 000 tonnes which was approximately 60 percent of all sugar sold for the year. Over 70 percent of this volume was sold through the local retail market as brown pre-packed sugar.

However, the report also revealed that the company faced some challenges in terms of distributing sugar to the market because of the persistent fuel shortages and rising transport costs in 2011.

“Logistical arrangements to move the sugar into the market through the strategically positioned distribution centres throughout the country proved extremely challenging during the year under review, against the background of persistent fuel shortages and rising transport costs,” reads the report.

Going forward, Illovo pointed out that preference will again be given to local consumer market sales and wherever possible, full advantage will be taken of sales opportunities into preferentially-priced export markets in Europe and the USA, as well as regionally to maximise the revenue stream.

Previous Post

Young MPs bemoan challenges to quality education in Malawi

Next Post

Coke sends Copa winners to SA, as NPL wins Copa award

Related Posts

RBM head quarters
Business News

RBM upbeat on inflation outlook

January 19, 2021
Georgieva: Spend a little bit more
Business News

IMF head, economist differ on spending

January 19, 2021
front budget flt | The Nation Online
Business News

Budget deficts to persist—economists

January 19, 2021
Next Post
The Nation Online Coke sends Copa winners to SA, as NPL wins Copa award image 2

Coke sends Copa winners to SA, as NPL wins Copa award

Trending Stories

  • Not yet given retirement benefits: Mutharika

    Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • Wasteful Chakwera

    0 shares
    Share 0 Tweet 0
  • Laz Chakwera’s Covid-19 strategy

    0 shares
    Share 0 Tweet 0
  • Covid-19 initiative raises K18.3m in 2 days

    0 shares
    Share 0 Tweet 0
  • HRDC takes govt to task over Covid-19 strategy

    0 shares
    Share 0 Tweet 0

Opinions and Columns

My Thought

Don’t relax, Covid-19 still here

January 17, 2021
Political Uncensored

Maddening chaotic virus

January 17, 2021
Emily Mkamanga

Chakwera has to instill unity

January 17, 2021
People’s Tribunal

Perilous times and the need for accountability

January 17, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.