Sugar Market: Smuggling of sugar from Pakistan to Afghanistan?
Kolhapur News : Sugar prices are out of reach in Pakistan. Traders in the market have expressed suspicion that sugar is being smuggled into Afghanistan. Pakistan government is expressing surprise due to sudden increase in prices.
Due to this price increase, the government of Pakistan has come to the decision of importing sugar. In order to avoid shortage of sugar, the government of Pakistan is in the mindset of importing one million tonnes of sugar at the rate of Rs 200 (Pakistani currency). All this burden will fall on Pakistani citizens.
The skyrocketing price of sugar has created a sugar emergency. Currently, the prices of sugar have gone above Rs.180 in the retail market. As the black market of sugar is also going on, the worry has increased. Pakistan’s Economic Coordination Committee (ECC) has asked for an inquiry into hoarding and smuggling.
Online marts and retailers are making huge profits from stockpiling due to the rise in wholesale prices. On the one hand, while the Center is constantly trying to control the price of sugar in India, in neighboring Pakistan, an uncontrolled situation has arisen regarding the price of sugar .
A few days ago, the government of Pakistan had said that there was no need to worry as there was a carryover stock of one million tonnes. But since August 1, the price of sugar in Pakistan has increased drastically.
160 to 162 rupees in Punjab province, 150 to 155 rupees in Sindh, 150 to 160 rupees in Pakistan-occupied Kashmir, and 150 to 158 rupees per kg in Balochistan. From August 1 to August 30, the wholesale price of sugar has increased by Rs 2100 per quintal (Rs 21 per kg).
Confusion due to price hike
In 2023, Pakistan’s sugar export was 2 lakh 15 thousand tons. Earned 10 million dollars from this. Exported 5 thousand tons on June 2023. Exports were banned in 2022. Pakistan is in a state of confusion due to the sudden price hike when 2 million tonnes of sugar is available. There is a discussion that there is a shortage of sugar due to the illegal export of sugar out of the country.
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