By MAIMBOLWA MULIKELELA –
ZAMBIA Sugar has injected over K760 million into the local economy through taxes and wages to workers as at end of March, 2015.
For the period 2014/15, the company paid K690 million into the local economy through payments to employees, cane growers and Government in the form of direct taxation among other payments.
Company secretary Mwansa Mutimushi said the company continued to be a significant provider of employment, with an average workforce of 5,500 during the year, including 1,950 permanent employees with seasonal workforce peaking at 4,800.
Ms Mutimushi said about K355 million of total goods and services excluding cane supply were bought from within Zambia.
In a commentary for the year ended March 31, 2015, Ms Mutimushi said the company remained committed to a response and relevant Corporate Social Responsibility programme and contribute meaningfully in areas of primary health care education, sport and culture activities.
She said recorded sales were achieved in the domestic market, increasing by six per cent.
“The company continued to build on its well established sugar marketing and distribution network across the country. Surplus sugar stocks in the world market and the consequent impact on global sugar prices continue to depress prices in the regional markets,” she said.
She said sales to the European Union market decreased by 30 per cent, while exports into regional markets increased by 60 per cent.
The negative pricing impact on export earnings had largely been mitigated by favourable exchange rate movements.
During the year under review, the company recorded 424,024 tonnes of sugar production in the 2014/15 milling season, beating the company’s previous production of 404,000 tonnes achieved in 2011/12.
This is the highest ever tonnage produced by a single sugar factory on the African continent in any given season.
This had resulted in the milling capacity increasing from 240,000 tonnes to 450,000 tonnes per annum.
“This record performance was largely due to improved factory reliability and better than expected overall time efficiencies.
Favourable weather and harvesting conditions experienced in November and December 2014 contributed to better cane quality and sucrose levels.
Average cane yields increased appreciably across the entire cane growing area,” she said.