Retailers concerned with speculative sugar prices in Zimbabwe

Source: Retailers concerned with speculative sugar prices | Sunday News (Business) The Confederation of Zimbabwe Retailers (CZR) on Thursday expressed concern at the speculative pricing of sugar which is taking place on the local market. The recommended retail price ranges between US$2.60 (ZiG 33.75) to US$2.80 (ZiG 37.80) for 2kgs of both brown and white sugar but some outlets are selling it for US$4.00 (ZiG54) per 2 kg despite the supplier, the Zimbabwe Sugar Sales (ZSS) not increasing its price. In a statement, CZR president Mr Denford Mutashu said the speculative pricing of sugar was emanating from the informal sector. “CZR however notes with dissatisfaction the number of widely branch networked retailers and wholesalers struggling to access product supply from the supplier,” he said. “There are ongoing engagements with Zimbabwe Sugar Sales (ZSS) to ensure supply into formal channel retail and wholesale stabilizes and all delivery backlogs are cleared.” Mr Mutashu urged law ...