Sharp drop in sugar imports fails to stir farmers and millers
Mumias Sugar Company has the highest raw material requirements in the country because of its diversification into power co-generation, ethanol distillation and water purification projects. Investors who bought the stock at its peak are feeling the effects of gross mismanagement and industry adversities. PHOTO | ISAAC WALE | FILE
Sugar produced in the country increased by 38 per cent to 654,209, perhaps underlining the oversupply of the commodity in the market, hence the poor prices.
A cane census conducted between January and March showed that yields had dwindled by 2.5 per cent.
Farmers and factories are yet to benefit from a drop in sugar imports, even as calls to ban the business so as to safeguard the local industry increase.
The sugar industry is yet to feel the impact of reduced imports, with a report by the Kenya Sugar Board showing a significant decrease in ex-factory sugar prices.
