STC Records Rs 3.5 Billion Surplus as New 2026 Consumer Missions Begin

The State Trading Corporation (STC) has achieved a dramatic financial turnaround, posting a surplus of Rs 3.5 billion for the current financial year, Minister of Commerce and Consumer Protection Michaël Sik Yuen announced during his annual review.

The windfall marks a significant shift for the body, which had suffered losses in three of the previous four years, including a Rs 622 million deficit in 2022-2023.

This year’s performance comes on the back of a Rs 52.5 billion turnover, allowing the STC to pivot toward aggressive market intervention in 2026.

Lower Prices for 2026

Mr Sik Yuen confirmed the STC will expand its footprint by importing new consumer goods, specifically canned products, to offer “very competitive” alternatives to existing market prices.

“The STC will have major missions in 2026,” the Minister stated. “It will be called upon to bring new product ranges to market, providing more choice and, I hope, lower prices than elsewhere.”

Acknowledging public frustration over the high cost of living, the Minister highlighted recent price drops for essential goods following government subsidies:

• Adult nappies and chronic illness medication: Prices slashed by Rs 50.
• Canned fish (Pilchards/Mackerel): Reduced by Rs 10.
• Milk: Remains Rs 50 cheaper than market rates due to subsidies, despite a recent Rs 5 global price hike.

Fuel and Energy Stability

Addressing the volatile fuel sector, Mr Sik Yuen defended recent price cuts, including a Rs 2.75 reduction on petrol in November 2025.

He noted that while some called for steeper decreases, the petrol Price Stabilisation Account had reached a 4% threshold, necessitating an early meeting of the Petroleum Pricing Committee (PPC).

However, diesel prices remain frozen as its stabilisation account currently sits at a Rs 2.5 billion deficit.

Meanwhile, domestic gas remains heavily subsidised; a cylinder currently costs consumers Rs 190, despite a real market value of Rs 600. New regulations now limit purchases to four cylinders per person.

Efficiency and Infrastructure

The Minister also lauded the Rs 33.5 million purchase of a storage terminal, a move expected to pay for itself within six years.

“Previously, we were renting storage for over Rs 25 million per month,” he explained, citing the purchase as a vital long-term cost-saving measure.

Legislative Overhaul

The upcoming parliamentary session in March 2026 will see the introduction of the long-awaited Consumer Protection Bill, a project the Minister has steered since 2010.

Further regulatory changes on the horizon include:

• E-Commerce: New rules to tackle “scams” in what the Minister described as an online “jungle.”
• Second-hand Vehicles: Dealers of new cars will soon be restricted to selling used vehicles only within the brands they officially represent.
• Gas Safety: A six-month deadline has been set for new regulations requiring gas water heaters to be fitted with carbon detectors following a series of domestic tragedies.

The Trade Division is also set to implement new regulations for trade fairs in the coming weeks, as the Ministry continues its “costing” exercise of over 20,000 products across Mauritius and Rodrigues.

Source: Le Mauricien