The Chairman of the Wholesale Grocers’ Association Abdul Rauf has said that the retail price of sugar in Karachi has risen to Rs120/kg as of Tuesday. He also mentioned that the price of sugar has gone up by Rs20/kg in the last 20 days and is currently being sold at Rs120/kg in the retail market. Additionally, the Wholesale Grocers’ Association stated that the wholesale price of sugar has gone up by Rs500, with a 50-kg pack now selling for Rs5600.
The association attributed the rise in sugar prices to factors such as hoarding, export, and smuggling to Afghanistan, which have led to an increase in demand. The demand usually rises during the month of Ramadan.
It is worth noting that earlier this year, the Economic Coordination Committee (ECC) approved the export of 250,000 tonnes of sugar, with the condition that the Pakistan Sugar Mills Association (PSMA) would not exceed prices in the domestic market. The meeting was chaired by the Federal Minister for Finance and Revenue, Senator Ishaq Dar. Furthermore, the Ministry of National Food Security and Research presented a summary on the export of sugar during the year 2022-23 and provided the recommendations of the 4th meeting of the Sugar Advisory Board (SAB).
