Sugar price surges to Rs 165 per kg

The sugar price has been increased to Rs 165 per kg!

Due to a lack of control over hoarding and the black market, the retail price of sugar has reached Rs 150 to Rs 165 per kg.

No practical steps are being taken by the federal and provincial governments to reduce the prices of sugar.

According to a news source, retailers are asking Rs 150 for a kg of sugar, while sugar is being sold at Rs 155 to 165 per kg at various online stores, marts, and superstores.

According to Chairman of Karachi Wholesalers Grocers Association Rauf Ibrahim, in the last two days, the wholesale price of sugar has reached Rs. 143 per kg after an increase of Rs. 8 per kg.

While in the first week of July, the price was Rs 131 to 132 per kg.

He said that there is no writ of government to control the rising prices of sugar while no serious steps are being taken by sugar mills and market forces to control black marketing and hoarding, who are increasing the price of sugar as per their wish.

He added that he did not know how much stock of sugar was recovered from the markets and sugar mills that were hoarded to generate money.

According to the Sensitive Price Index (SPI), the price of sugar in Pakistan reached 135 to 160 rupees per kg during the last week, which was 125 to 140 rupees per kg in the first week of July, while in the first week of January this year, sugar was being sold at Rs 87 to 100 per kg.