By Ndumiso Tshuma
The Confederation of Zimbabwe Retailers (CRZ) has expressed concern over the speculative pricing of sugar and called for law enforcement intervention.
CRZ president Denford Mutashu highlighted the discrepancy between the recommended retail price (RRP) of US$2.60-US$2.80 for 2kg of brown or white sugar and the inflated prices charged by some retailers, who are selling the product for as much as US$4.
“This situation requires immediate action to address the seemingly arbitrary pricing in the market, likely originating from the informal sector,” Mutashu emphasised.
Mutashu pointed out that these inflated prices have made it difficult for some retailers and wholesalers to access the product at a fair price.
He urged the Zimbabwe Republic Police (ZRP) Licensing Inspectorate and the Reserve Bank of Zimbabwe (RBZ) Financial Intelligence Unit (FIU) to take action against “unscrupulous traders” selling sugar above the RRP.
The CRZ is also working with Zimbabwe Sugar Sales (ZSS) to ensure a stable supply chain for formal retail and wholesale channels. This collaboration aims to clear any existing delivery backlogs and prevent future disruptions.
