Zimbabwe’s GoldStar Sugars has shut down its Harare sugar refinery plant from yesterday due to high sugar raw material prices.
In a letter dated 13 February 2023, the Commercial Executive Revesai Gwenhamo said the sugar company was faced by both high sugar prices being charged by the supplier and onerous trading terms. Read letter below:
TEMPORARY CLOSURE OF GOLDSTAR SUGARS HARARE REFINERY
We are writing to advise that we have closed Goldstar Sugars Harare Refinery with effect from Monday, 13 February 2023 until further notice. The closure is a result of a raw sugar price increase taken by our supplier on 9 February 2023 which makes it difficult for the company to produce and sell refined sugar at a competitive and viable price, as well as onerous terms trading terms which have constrained raw sugar supplies to the Refinery.
We have engaged the supplier and forward to finding an amicable solution to enable us to resume operations as soon as possible. We will keep you informed of progress on the matter.
Any inconvenience caused is sincerely regretted.
