Minister of Trade and Industry Mark Katsonga says his ministry is in talks with Illovo Sugar (Malawi) plc over ‘unreasonable’ sugar price increase.

Katsonga told journalists on Thursday, that it is shocking that prices of sugar have been increased by 76% yet the product is produced using locally produced materials.

He warned that if the company continues exploiting Malawians with exorbitant prices, government will open doors for importation of sugar.

Katsonga also expressed concern that prices of other locally produced products such as soap are being increased unjustifiably.

Acting Executive Director to the Competitions and Fair-Trading Commission (CFTC) Apoche Itimu said the commission is making progress in the review of penalties which are imposed on traders violating competitions and fair-trading Act.