Kinyara Sugar Ltd. raises sugarcane prices
Written by Benard Musinguzi on December 14, 2023
Kinyara Sugar Ltd has raised its sugarcane price from 160,000 shillings to 181,000 shillings per ton.
According to a one-page press statement released by the company on Wednesday, dated December 9, 2023, upon a joint review of the current volatile situation by the management and Masindi District Sugarcane Growers Association Limited (MASGAL) Board, the price was mutually agreed upon.
The press statement signed by the Out Growers Manager stated that they revised the sugarcane price upwards to ensure stability against adverse external forces and safeguard the most important interests of all stakeholder groups.
‘’In this regard, therefore, a new price of 181,000 shillings has been agreed upon per ton of sugarcane supplied by sugarcane farmers,’’ the press statement further read in part.
It also stated that the new price will be payable on December 11, 2023, and shall be reviewed at the end of the financial year 2023–24.