The management of Kinyara Sugar Limited has announced a reduction in the setting of the new price for sugarcane for the 2021/22 financial year.
In press release dated yesterday July 1, 2020 a copy of which this website has seen, the sugar company has announced Shs88,400 as the new price for a tonne of sugarcane that will be supplied starting yesterday July1, 2021 payable at 100 per cent.
This is a reduction from last financial year’s price of Shs91,586 per tonne.
The release indicates that the price was reached as per the recent agreed upon sugarcane price formula.
The company management also pledged to continue devising sustainable means to improve sugarcane yields as a fundamental ingredient to the overall success of the sugarcane value chain.
Kazi-njema News could not get a comment from the Masindi Sugarcane Growers Association (MASGAL) board chairman, Cosmas Byaruhanga on the matter since he could not reached by publication time.
Mr Byaruhanga is among the sugarcane out-growers who have for long been opposed to the Shs91,586 paid per tonne saying it was too little money for the farmers.
It remains unclear if the farmers will bend low to the new and reduced price.