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Wednesday, October 16, 2024  
12 Rabi Al-Akhar 1446  

Sugar price tops Rs200 per kg in several cities

The commodity rose by Rs40 per kg in four days in Quetta
A labourer stacks sacks of sugar outside a shop at a wholesale market in Karachi, Pakistan June 9, 2023. Photo Reuters
A labourer stacks sacks of sugar outside a shop at a wholesale market in Karachi, Pakistan June 9, 2023. Photo Reuters

After a wave of soaring prices, sugar was being sold at above Rs200 per kg across most of the country on Monday, while Quetta witnessed a higher jump in sugar prices with people forced to buy at Rs220.

In Quetta, the price of natural sweetener was at Rs205 per kg but it suddenly spiked on Monday by Rs15. Some of the wholesalers even claimed that sugar was being sold at Rs230 on the outskirts of the city.

The price of sugar has increased by up to Rs40 in four days of September.

However, the ministry of food security termed the hike as “artificial”. Sources said that the authorities described smuggling and hoarding as the reasons behind the increase.

On Sept. 2, Pakistan Customs in two separate operations seized 20 trucks en route to Afghanistan carrying sugar worth millions of rupees. The smuggling attempt was made while the country was already facing a shortage.

The officials of the food ministry marked out sugar industries as beneficiaries of the decision regarding sugar export which was taken in January and said the commodity was being sold for Rs85 to 90 per kg before the decision.

Sources said that currently, the country has 1.815 million metric tons stock of sugar which would further rise in crushing season, while the country consumes 0.65 mmt in a month.

The authorities directed concerned departments to take action against hoarders and smugglers in entire the country to control the shortage of this essential item.

On the other hand in the federal capital, sugar was being sold at the whims of the traders with some shops selling it at Rs180 and others at Rs190.

People in Peshawar were forced to buy per kilogramme of the sweetener at Rs200.

The August data from Pakistan’s statistics bureau showed a slight easing from July’s 28.3% inflation rate, but food inflation remained elevated at 38.5%.

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