{"id":79748,"date":"2023-06-30T10:32:44","date_gmt":"2023-06-30T08:32:44","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry"},"modified":"2023-06-30T14:03:25","modified_gmt":"2023-06-30T12:03:25","slug":"tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry","title":{"rendered":"Tongaat Huletts decries cheaper sugar imports impact on local industry"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Zimbabwe. <\/strong><\/span>LISTED sugar processor, Tongaat Huletts says cheaper sugar imports are negatively affecting the country\u2019s local industry by depressing sales volumes amid concerns of exposing consumers to health hazards.<\/p>\n<p>Presenting the financial performance for the year 2023, Tongaat\u2019s chairman, Canaan Dube said the Statutory Instrument 98 implemented by the government last year whose six months tenure ended in November 2022 prompted a huge knock on local industry\u2019s viability.<\/p>\n<p>\u201cLocal market share was compromised as a total of seventeen (17) brands were imported into the country during the SI\u2019s tenure. The sugar industry estimated the total impact of these imports to have been 5% of the annual local sugar sales volume,\u201d he said.<\/p>\n<p>Dube underscored that world sugar markets are normally residual markets for excess sugar supply and are affected by support policies and\/or subsidies implemented by governments of sugar producing countries.<\/p>\n<p>\u201cConsequently, world sugar markets often trade below global costs of production, meaning that imported sugar has an unfair price advantage over sugar produced locally in Zimbabwe where production costs are relatively higher,\u201d he said.<\/p>\n<p>In addition, Dube said, some of sugar imported did not comply with the labelling and Vitamin A fortification regulations, which would have formed part of the costs of locally produced sugar.<\/p>\n<p>However, considering that the government introduced Statutory Instrument 80 of 2023 last month in a bid to neutralize exorbitant prices in the markets, the local sugar industry is set to experience further setbacks during the instrument\u2019s tenure.<\/p>\n<p>Meanwhile, for the year ended March 31 2023, the company\u2019s share of total industry sugar sales volume of 381 820 tons was 52.3% .<\/p>\n<p>Total industry sugar sales volume into the domestic market for the year, at 338 059 tons (2022: 356 253 tons) was 5% below prior year as a result of competition from low-cost imports.<\/p>\n<p>Industry export sales however, increased by 15% to 43 760 tons (2022: 38 000 tons) following an improvement of export volumes to the USA 17 751 tons in 2023 compared to 13 798 tons in 2022.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/zimbabwe\">Zimbabwe<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Zimbabwe. LISTED sugar processor, Tongaat Huletts says cheaper sugar imports are negatively affecting the country\u2019s local industry by depressing sales volumes amid concerns of exposing consumers to health hazards. Presenting the financial performance for the year 2023, Tongaat\u2019s chairman, Canaan Dube said the Statutory Instrument 98 implemented by the government last year whose [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":79747,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,19],"class_list":{"0":"post-79748","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-zimbabwe"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tongaat Huletts decries cheaper sugar imports impact on local industry - zimbabwe<\/title>\n<meta name=\"description\" content=\"LISTED sugar processor, Tongaat Huletts says cheaper sugar imports are negatively affecting the country\u2019s local industry ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tongaat Huletts decries cheaper sugar imports impact on local industry\" \/>\n<meta property=\"og:description\" content=\"LISTED sugar processor, Tongaat Huletts says cheaper sugar imports are negatively affecting the country\u2019s local industry ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-30T08:32:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-30T12:03:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/06\/sm_1688110253.594639.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"436\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tongaat-huletts-decries-cheaper-sugar-imports-impact-on-local-industry\",\"name\":\"Tongaat Huletts decries cheaper sugar imports impact on local industry - 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