Pakistan : Sugar prices hit Rs180 per kg in retail
Sugar prices surged during Ramazan, reaching Rs166 per kg wholesale and exceeding Rs180 per kg retail. The Karachi Wholesale Grocers Association blamed unchecked sugar exports and hoarding. Artificial shortages have further inflated prices, with rates expected to rise to Rs200 per kg. Citizens demand government intervention to curb profiteering and stabilize the market.
The rising prices of sugar could not be stopped during Ramazan as sugar prices increased by Rs3 to Rs166 per kg in wholesale and exceeded Rs180 per kg in retail, reported 24NewsHD TV channel on Sunday.
Chairman Karachi Wholesale Grocers Association Abdul Rauf Ibrahim said the government has allowed sugar exports without obtaining crushing data. The sugar mafia has bought sugar at Rs115 per kg and stored it in warehouses and if the government takes steps, sugar can come down to Rs125 per kg.
Abdul Rauf Ibrahim said why the sugar mafia is not being controlled. He said a track and trace system should be implemented on sugar mill owners. On the other hand, profiteers are active due to the increase in sugar consumption during the month of Ramazan in Multan too.
The sugar mill owners have succeeded in creating an artificial shortage by shorting sugar. Sugar is being sold in the open market at Rs170 per kg in black due to shortage and sugar is likely to be sold at Rs200 per kg in the coming days. Citizens are worried due to the increase in sugar price demanded from the district administration to reduce sugar prices. The association said it is surprising that there are nine months left in the next season and an artificial shortage has already been created.
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Source : News 24
