Fresh sugar crisis in country feared

LAHORE-The country is likely to face sugar shortage in coming months as the sugar price has surged to Rs 39 per kg here in the open market while the millers have reduced the supply to the market, dealers said on Tuesday.

The market sources also hinted further increase in the price of white refined sugar in the days to come as the Punjab govt has already enhanced the minimum purchase price of sugarcane from Rs 63 to Rs 80 per 40kg.

According to market sources, the sugar price has registered an increase of Rs 15 per kg during the last four months as its price swelled to Rs 39 from Rs 24 during April 1, 2008 to October 1, 2008, respectively.

The sugar dealers also claimed that hoarders and profiteers have jumped into the sugar business in connivance with the sugar mills to push its prices upward by creating artificial shortage in the local market.

‘The sugar price is increasing with every passing day in the open market as the sugar mafia in connivance with the sugar mills owners has become active in this field’, Asghar Butt President Lahore Sugar Dealers Association said, when contacted.

He said that sugar price has registered an increase of Rs 15 per kg during the last four months.