Reserve Bank of Malawi (RBM) Second Quarter Financial and Economic Review shows that sugar exports rose to $183.8 million (about K136 billion) in the period under review, from $13.7 million (about K10 billion) the previous quarter and $10.3 million (about K8 billion) the other quarter.

The good news arrives as locally, sugar prices hiked. The sugar prices and illegal imports have been burdensome to the sugar giant, as Malawi Revenue Authority has also taken action against the smuggling. Not long ago, MRA engaged in a campaign against sugar smuggling, for key business and trading centres along the border with Mozambique and Zambia.

On the positive side, rising sugar prices on the global market have helped to push up exports by 28%, while tobacco and tea exports registered at $83.6 million (about K62 billion) and $17.7 million (about K13 billion) from $86.3 million (about K64 billion) and $22.9 million (about K17 billion), the previous quarter, respectively.

The RBM report also shows that imports registered a quarterly increase of 3.2% to $723.7 million (about K536 billion) in the quarter under review.