CFTC faults Illovo for hiking sugar prices

The Competition and Fair Trading Commission (CFTC) has recommended that Illovo Sugar be prosecuted for unacceptable hiking sugar prices.

The recommendation follows an earlier decision by the company to raise sugar prices in the country, in order to curb smuggling of sugar out of the country.

But after receiving several complaints, CFTC executive director Lloyds Vincent Nkhoma told a news conference in Lilongwe that the Commission’s investigation found that the reason for the price increase was unjustifiable, irrational, and adversely affected consumers.

Nkhoma has also disclosed that the commission has recommended that ZAMM Investments should be prosecuted for alleged supply of some batches of sealed Cool Drop Natural Mineral Water in 500ml bottles likely to cause injury to health or physical harm to consumers.

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