Harare (New Ziana)- Sugar producer, GoldStar said on Wednesday it had temporarily shut its Harare refinery due to an increase in raw sugar prices which had negatively impacted its trading margins.
In a statement, GoldStar commercial executive Revesai Gwenhamo said the closure of the refinery was temporary but did not say when it might resume operations.
“We are writing to advise that we have closed the Goldstar Sugars Harare Refinery with effect from Monday, 13 February 2023 until further notice,” he said.
“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 trading terms which have constrained raw sugar supplies to the refinery,” he added.
“We have engaged the supplier and look 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,” said Gwenhamo.
The company is one of the largest sugar producers in the country, and a prolonged shut down might lead to sugar shortages.
New Ziana
