President William Ruto has assured Kenyans that the government is actively working to bring down the soaring cost of sugar in Kenya. Speaking earlier today, the President acknowledged the significant increase in sugar prices since he took office.
He attributed the high prices to a shortage of cane both in the local market and within the Common Market for Eastern and Southern Africa (COMESA).
President Ruto highlighted his administration’s efforts to streamline the sugarcane sector. Large scale sugarcane farming and processing has long been plagued by confusion and mismanagement.
William Ruto emphasized that the scarcity of cane has led to the temporary closure of many sugar companies. To address this issue, the government has decided to issue licenses to various stakeholders in the sector.Thus enabling them to import sugar from outside the COMESA market.
The President assured Kenyans that they can expect to see a difference in sugar prices within the next two weeks as imports start to arrive. The move to import sugar is aimed at meeting the country’s demand, which currently stands at over 180,000 tonnes.
Prior to the government’s intervention, the cost of sugar had escalated significantly. A 2kg packet currently retails between KSh 450 to KSh 510 in supermarkets and small retail shops. A kilo pack of sugar is priced between KSh 235 to KSh 260. These prices were expected to rise further due to limited supply.
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To promote local manufacturing and support the sugar industry, the government introduced an excise duty of KSh 5 per kilogramme on imported sugar. This move followed the implementation of the Finance Act 2023, which saw the lifting of stay orders by the court on Friday, July 28.
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The President’s assurance of impending price reductions offers relief to Kenyan consumers facing the fire current sugar price. With strategic measures in place, the government aims to stabilize the sugar market and reduce the burden on citizens.
