By Our Reporter
MASINDI: The Management of Kinyara Sugar Limited (KSL) and the Board of the Masindi Sugarcane Growers’ Association Limited (MSGAL) have agreed on the sugarcane price for the 2022/23 financial year.
This was at the end of the negotiations on the price between the representatives of the two parties that have been going on since the current financial year begun on July 1st 2022.
In a press release dated 12 July 2022 and jointly signed by MASGAL Board chairperson Robert Atugonza and Kinyara Sugar Corporate Communications Manager, Caroline Amongin, the two parties agreed on a 14.25% price increase for the price of the sugarcane effective 1st July 2022 to June 30th 2023.
This translates into an increase from UGX 88,400 per tonne of cane in 2021/22 financial year to UGX 101,000 per tonne of cane for financial year 2022/23.
The two parties also agreed on an inflational adjustment offer of UGX 1,000 per tonne of sugarcane during the 2021/22 financial year.
The release notes that the price has been mutual arrived at by the two parties for the mutual benefit and growth of the partners and all stakeholders in the region.
Robert Atugonza, the chairperson MASGAL board confirmed that the price amount was what was agreed on by the two parties as the price for sugarcane for the current financial year.
He however noted that the price may not be what the farmers would have wished but the board has achieved by siting with Kinyara Sugar management and negotiate on the price which has not been there for some time.
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