Sugar prices surge despite imports across Pakistan
Despite sugar imports, prices in Pakistan remain high, averaging Rs184 per kg, up from Rs137 a year ago. In cities like Peshawar and Hyderabad, sugar hit Rs280 per kg. The Pakistan Sugar Mills Association (PSMA) criticized the government’s import of 0.3 million tonnes, citing adequate local stocks and urging better use to aid the financially strained industry.
Despite import of sugar, the average price of the sweetener has touched Rs184 in various parts of the country.
According to details released on Friday by the Pakistan Bureau of Statistics (PBS), there was a marginal decrease of only Rs0.5 per kilogram last week.
The price of sugar per kg reaches Rs200 in Peshawar as price increased by Rs5 in Peshawar in a week. The price of sugar per kilogram in Karachi is up to Rs195, according to the Bureau of Statistics. The price of sugar per kilogram in Quetta is Rs192 and in Islamabad, it is up to Rs190. The average price of sugar per kilogram in Punjab is up to Rs190.
In Peshawar and Hyderabad, the price reached a record Rs280 per kilogram. The same maximum price was also recorded in Multan, with Bahawalpur reporting Rs240 per kilogram. In Larkana, sugar sold for Rs220 per kilogram, and Rs200 in Sukkur. In Islamabad, Rawalpindi and various cities of Punjab, the rate stood at Rs190 per kilogram. In Lahore, sugar was available at Rs177 per kilogram.
Across different cities, sugar sold for between Rs177 and Rs200 per kilogram. The average price last week stood at Rs184 per kilogram. The average price of sugar per kg in the country has fallen to Rs183.89. The average price of sugar per kg has decreased by 5 paise in a week. Till last week, the average price of sugar per kg in the country was Rs183.94. A year ago, the average price of sugar per kg in the country was Rs137.51.
The Pakistan Sugar Mills Association (PSMA), in response to the government’s decision not to proceed with further imports, said the industry had maintained from the outset that the country held sufficient sugar stocks. The government placed an order for 300,000 tonnes of sugar, which the association said was unnecessary from the beginning.
As of November 18, stocks were deemed sufficient. The Association said these must be utilised to help the industry recover from the financial crisis.
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Source : Minute Mirror
