Sugar price increased by Rs5 per kg

ISLAMABAD: Sugar price increased by Rs5 per kilogram (kg) on Saturday, forcing consumers to now buy sugar at Rs150 per kg.

The abrupt increase follows reports indicating an alleged mass export of sugar by mill owners. This has led to concerns among consumers about market stability.

According to sources, the retail market price of sugar is Rs142 per kg, while it now costs Rs144 per kg in the wholesale market.

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Amidst the price fluctuations, sugar mill owners have applied for permission to export 1 million kg of sugar.

However, consumers are urging the government to intervene and prioritise local markets over exports to mitigate price volatility. They demand to sell surplus sugar domestically in order to stabilise prices and ensure affordability for consumers.

The recent increase in sugar price coincides with broader concerns about inflation in the country. Despite a reported positive trend by the Pakistan Bureau of Statistics (PBS) showing a 0.79 percent decrease in the weekly inflation rate, the overall inflation is still hovering at almost 30 per cent.

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The Federal Minister for Commerce has taken steps to address industry concerns. He organised meetings with representatives from the Sugar Mills Association and related entities. The discussions aimed to identify issues faced by the sugar industry and explore practical solutions. The minister reassured stakeholders of his commitment to advocate for their interests while supporting the local industry.

The Sugar Mills Association in particular expressed concerns about potential increase in tariffs for sugar export, stating that exports of the essential commodity should be “encouraged” to boost foreign reserves.