Sugar prices witness decline amid fed govt measures

Sugar prices witness decline amid fed govt measures

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Karachi: Among the measures taken by the federal government, the country’s sugar prices have witnessed a decline in the wholesale and retail markets.

According to detailed information, the price of sugar in the wholesale market has dropped by 4 rupees per kilo, while the price in the retail market has now fallen by 8 rupees per kilo. In the wholesale market, the price of sugar dropped from 84 rupees per kilogram to 80 rupees per kilogram.

The price of sugar per 100 kg big bag has dropped by 1,500 rupees because it is priced at 8,000 rupees instead of the previous 9,500 rupees.

A spokesman of the wholesale dealers association in Jodia Bazar Karachi said that the sugar prices went down by Rs 15 per kilogram in the ongoing week as its prices have come down to Rs 80 from Rs 95.

He said that after the government announced that the country’s sugar cane was squeezed in time, sugar prices have improved. The price of the product in the retail market also fell below 100 rupees per kilogram, and the current transaction price is 92 rupees per kilogram.

It is pertinent to mention here that Federal industries and production minister Hammad Azhar on November 24 said in a press briefing that sugar prices had previously soared thus the government imported about 1.25 lac tonnes following which the commodity is now available for Rs62 per kilo.

Talking about steps to offset crises of sugar and wheat, the government minister noted imminent crushing season will bring down sugar prices further.

Rs10 to -12 rupees have slashed for the commodity in ex-mill and wholesale rates in the past 10 days, said federal minister Azhar, adding that it will be historic first for sugar crushing season to begin timely. The effect will reflect on the retail market as well.

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