STARAFRICA Corporation (Starafrica) says it is looking forward to the government reinstating duty on imported sugar, a development that will positively impact the local sugar industry.
The listed sugar refiner’s chairman, Rungamo Mbire, said sales volumes of granulated sugar produced by the group’s Goldstar Sugars (GSS) were stagnant, amounting to 82,321 tonnes during the year compared to 82,500 tonnes sold in the prior year.
Mbire said this was on the back of pressure from imports after promulgation of Statutory Instrument 98 of 2022.
“The ministry of Finance and Economic Development later suspended duty on the importation of sugar into the country,” he said in a statement accompanying the group’s financial results for the year ended March 31
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