Business
Sugar price in Lahore wholesale market reduces
The price of a 50 kg bag has settled at Rs6750, and the mercantilist are increasing the rate.
Lahore: The rate of sugar in the wholesale market of Lahore has been reduced by Rs3 per kg on Wednesday.
According to sugar dealers, wholesale sugar is being sold at Rs137 per kg. The price of a 50 kg bag has settled at Rs6750, and the mercantilist are increasing the rate.
On the other hand, the price of sugar increased by Rs50 in Quetta in the last one week after which the commodity was being sold at the rate of 190 rupees per kg in the city.
The business community stated that there is a sugar crisis due to the de-zoning of Quetta and non-issuance of new permits. The smuggling of sugar is also going on across the border, due to which the sugar crisis is arising and sugar is being sold at high prices in the market.
Yesterday, the price of sugar per kg in the wholesale market was increased from Rs120 to settle at Rs132 in just three days.
A bag of 100 kg of sugar is being sold at Rs13,200. The shopkeepers described the increase in the price of sugar as an indication of the collusion of sugar mill owners and big sugar dealers.
Stakeholders of the sugar industry say that despite the beginning of the crushing season, the cost of sugar is a big question mark for the government. The demand of sugar mill owners to allow the export of sugar has also affected the price.