Connect with us

business

BUA GROUP DENIES SUSPENSION OF SUGAR SALES AS DANGOTE JOINS FLOUR MILLS TO JERK UP COST OF SUGAR AGAIN

Published

on

It is peak season for manufacturers of sugar again and those who want to maximize on sales have already put together measures to ensure that they make the best out of the situation to the detriment of consumers.

Reports indicate that Dangote Sugar has decided to suspend sales of sugar in sympathy with Flour Mills who have been forced to stop sales over compliant issues by the Government. The move by Dangote is believed to be aimed at jerking up price as it does annually.

Advertisement

This move has forced most stakeholders to write BUA foods to find out whether they would be joining in shutting down sales thereby jerking up the price of their products.

BUA has however come out to say that they are not going to suspend sale of sugar neither are they going to join anyone in blackmailing the Government to change its mind over breach in compliant issues.

Advertisement

Recall that the pre-fasting season is always the peak period for the sale of sugar as most manufacturers record between 30-40% of their annual sales around this period.

Last year, BUA refused to join the gang-up by Flour Mills and Dangote Group to raise the price of sugar prompting Dangote to write a personally signed petition against BUA Group alleging infringements which were found to be cooked up.

Advertisement

This year, again Dangote has decided to stop sales in sympathy with Flour Mills which is being punished by Government. The implication is that the price of the product will go up given the fact that this is the peak period for sales in the year. With Dangote suspending sales, if BUA were to do same, the price of sugar would go out of reach of the common man especially those who need to stock for fasting.

BUA has however come out to say that it has the capacity to meet 90% of the nation’s needs at this period and therefore will not be party to any stoppage of sales or hike in the price of sugar.

Advertisement

According to the release from BUA, products from its Lagos and Port Harcourt sugar refineries will take care of the nation’s needs and there is therefore no need for panic buying. They also warned that any of their distributors caught hoarding the product would be delisted

Advertisement
Advertisement
1 Comment

1 Comment

  1. Hairstyles

    February 18, 2022 at 5:56 am

    Thanks on your marvelous posting! I certainly enjoyed reading it, you’re a great author.I will be sure to bookmark your blog and will often come back very soon. I want to encourage you to definitely continue your great writing, have a nice afternoon!

Leave a Reply

Your email address will not be published. Required fields are marked *

Cover20 hours ago

“Beauty Without Brains is an Empty Vessel” Beautiful Carolyna Hutchings highlights in Episode 4 of Mercy’s Menu Season 4!

Uncategorized21 hours ago

KFC Reacts As FAAN Shuts Lagos Airport Branch Over Discrimination Against Son Of Ex-Ogun Govt

Cover22 hours ago

FAAN Shuts Down KFC For Denying Ex-Ogun Governor’s Son Entry Over His Disability

Cover22 hours ago

MoneyMaster PSB named payment partner for ‘Ounje Eko’

business2 days ago

Palliatives: Dangote donates 80,000 bags of rice to Lagos residents

Uncategorized2 days ago

BLOGGER, AKA IJELE, ARRESTED FOR THREATENING TO KILL EVANG. EBUKA OBI

Cover3 days ago

AARE ADETOLA EMMANUELKING ADVOCATES FOR CONSOLIDATION BEFORE TRANSFORMATION AS LAGOS REDAN CHAIRMANSHIP ASPIRANT PAID COURTESY VISIT

Uncategorized3 days ago

[Video] Lady driving from London to Lagos involved in car crash

Cover3 days ago

Ondo Guber Aspirant, Paul Akintelure reported dead Days After Raising Alarm Over Threats To His Life

Cover4 days ago

PSC reschedules applicant’s medical screening, examination (See Date)

Cover4 days ago

Why I Broke Up With My Girlfriend When I Became A Star – Singer Asake Opens Up

news4 days ago

SYTA Season 5: Grand Winner Emerges, as NAFDAC DG Commends Shalina

Cover5 days ago

Hunger: Dangote spends N15bn on food intervention programme across Nigeria

Cover5 days ago

Gov Adeleke Sets Up Cyber Crime Action Committee To Tackle Fake News In Osun

Cover5 days ago

MRS FUNMILAYO ADELAYI’S DEATH: MEDICAL REPORT CONFIRMS NIECE MENTAL HEALTH CONDITION

Advertisement