Zimbabwe: Hippo Sugar Volume Dips 7pc

Michael Tome — HIPPO Valley Estates Limited recorded a seven percent decline in domestic sales in the first quarter to June 2024, due to the spillover effect of duty-free sugar imports on the domestic market.

This follows the repeal of Statutory Instrument 80 of 2023, which took effect on February 1, 2024.

Following the publication of the statutory instrument 80 in May 2023, domestic market sales for the sugar industry experienced immense pressure from the cheaper imports.

The sales performance…