Sugar price soars to Rs 28.50 per kg

Ashraf pointed out the mills had 1.8 million tons stocks of sugar so far while over 0.3 millon tons sugar stocks lying with the TCP which is sufficient to fulfill the consumption needs of country.        

Keeping the increasing trend of sugar prices the mills owners were not ready to sale white sweetener on the ex-mill rate of Rs 28.50 per kg to TCP, he pointed out. He reminded that earlier TCP was reluctant to purchase the commodity on Rs 26 per kg but now mills owners were not interested to participate in TCP tender.

Abdul Wajid Arain, former president of PSMA Sindh zone, while talking to The Nation claimed that mostly the mills of Sindh had sold their sugar stocks on low prices of Rs 22 per kg because they had to pay the arrears to growers and bank loans. He said that only big investors and mills’ owners got profit of this increased ex mill rate of sugar.   

Fareed Qureshi chairman of Retailers Association Karachi told The Nation that the retail price of sugar was Rs 32 per kg but according to consumers the white sweetener was being sold at the rate of Rs 33 per kg in Clifton and other areas of the City.