Sugar price reaches Rs120/kg in Karachi

The retail price of sugar in Karachi has reached Rs120/kg, the chairman Wholesale Grocers’ Association Abdul Rauf said Tuesday. 

The price of sugar has witnessed an increase of Rs20/kg in the last 20 days, the chairman of the wholesale grocers’ association said and added that the commodity is being sold at Rs120/kg in the retail market.

Wholesale grocers association in its statement further said sugar has gone up by Rs500 with a 50-kilogram pack being sold out in the wholesale market at Rs5600.

The wholesale grocers said that the demand of sugar usually increases in Ramadan and due to hoarding and export of the commodity including smuggling to Afghanistan, the price is being increased.

Earlier this year, the Economic Coordination Committee (ECC) of the cabinet 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 presided over by Federal Minister for Finance and Revenue, Senator Ishaq Dar.

The Ministry of National Food Security and Research submitted a summary on the export of sugar during the year 2022-23 and presented the recommendations of the 4th meeting of the Sugar Advisory Board (SAB).