Government has ordered Illovo Sugar Limited to reduce the price of sugar in the country within seven days.

But Illovo says it is studying the ministry of Trade and Industry statement and will respond in due course.

The government order was made Saturday 11 June 2023 when Finance minister Sosten Gwengwe and Trade minister Simplex Chithyola engaged Illovo board chairman Jimmy Lipunga and Managing Director Lekani Katandula.

Government says in a press statement it expects Illovo to reduce sugar prices within seven days from today and if the company doesn't comply, government will issue more import licences to other players to help cushion the provision of the commodity.

Last week, Consumers Association of Malawi requested Malawi government to allow other players to supply sugar if Illovo doesn't reduce sugar prices saying the current prices are too exorbitant for Malawians.

But Illovo Sugar Limited says it has not committed to reduce the price of Sugar as portrayed by the Ministry of Trade through the statement issued.

In a written response, Olive Kawelama, who is the Communications and Stakeholder Relations Manager for the company, says Illovo was only requested during a meeting held on Sunday, to consider reducing the price.

"Our understanding of the discussions was that the ministry requested Illovo to consider revisiting the price of industrial sugar as a condition for the ministry to consider cancelling the licenses for the importation of sugar.

"Illovo undertook to revert to the ministry within a week and is yet to submit its response as the one week has yet to expire", says Kawelama.

She adds that the company will internally evaluate the press release issued by the Ministry of Trade and Industry, to directly respond to the ministry.