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Economy

Sugar Prices Touching Skies – at Rs110 despite imports & local output

At Rs 110 per kg the sugar price is very very high, hitting the common man badly, in small towns, this price is very high for lay man.

Sugar production in November 2020 stood at 458,435 tons after the start of sugarcane crushing which further swelled to 1.423m tons during December 2020.

KARACHI: Sugar is being retailed at Rs105-110 per kg in Karachi against Rs95-100 last week, while consumers in Lahore are paying Rs93-100 against Rs85-90 per kg.

Similarly, in Quetta the sweetener is available at Rs105-106 per kg as compared to Rs95-97 last week.

Karachi Retail Grocers Group (KRGG) General Secretary Farid Qureishi said the wholesale rate of sugar is Rs97 per kg. But Karachi Wholesalers Gro­cers Association (KWGA) Anis Majeed said the wholesale rate is Rs94 per kg and retailers are minting money by charging Rs105-110 per kg.

Mr Majeed also blamed the government for mismanaging commodities’ prices including sugar. He said no action had been taken against anybody despite the government’s inquiry report of last year relating to sugar and wheat crisis, while no quantities of both cash crops were recovered from hoarders. He added the millers were simply putting the onus on growers for providing costly sugarcane.

As per Large-Scale Manufacturing (LSM) data, sugar production in November 2020 stood at 458,435 tonnes after the start of sugarcane crushing which further swelled to 1.423m tonnes during December 2020.

In July-December 2020-21, the country’s total sugar production jumped 72pc to 1.881m tonnes from 1.093m tonnes in the same period last year.

According to the Pakistan Bureau of Statistics, the country imported over 278,482 tonnes of sugar by both public and private sectors during the July-January period of FY21.

The Trading Corporation of Pakistan (TCP) imported 130,000 tonnes of sugar from August-November 2020 for consumption in Punjab, Khyber Pakhtunkhwa and Utility Stores.

Cereal Association of Pakistan (CAP) Chairman of Muzammil Chappal said the private sector had completed its import target of 150,000 tonnes in October 2020.As per Sensitive Price Index (SPI), in other parts of the country, the minimum to maximum rates in Islamabad was Rs100-105 per kg on March 11, which was Rs98-100 on March 4, while in Rawalpindi the rate is now Rs97-105 as against Rs95-100 per kg.

On March 11, as per SPI figures, in Gujrnwala and Faisalabad sugar was available at Rs98 and Rs96-98 per kg as compared to Rs95-97 and Rs94-95 per kg.

In Multan, sugar price was between Rs95-100 per kg as compared to Rs 95-96 on March 4 followed by Rs100 per kg in Bahawalpur as compared to Rs96-98.

Rate in Hyderabad was Rs98-100 per kg as compared to Rs95-100 per kg followed by Rs96-98 per kg in Sukkur versus Rs95-96 per kg. The price of sugar in Larkana and Peshawar remained unchanged at Rs95 and Rs100 per kg.

At Bannu and Khusdar, the prices were Rs95 and Rs97 per kg as compared to Rs92-93 and Rs95 per kg.

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