In Karachi, wholesale rate of sugar increased by Rs15 to Rs155 per kg in a week


Lahore: The retail price of sugar in Karachi, Lahore, and Islamabad has reached Rs170 per kg due to the increase in wholesale prices due to strong demand during Ramadan.
According to a report, retailers in Karachi fear that if the upward trend in the wholesale market continues, the price could reach Rs200. However, wholesalers blame the millers for the increase in prices.
In Karachi, the wholesale rate of sugar increased by Rs15 to Rs155 per kg in a week.
Earlier, the average national price of sugar in February was Rs145 to Rs160 per kg.
Meanwhile, a spokesperson for the Pakistan Sugar Mills Association (PSMA) (Punjab Zone) has claimed that there has been no unusual increase in the ex-mill price while it fluctuates due to supply and demand factors.
The spokesperson said that the sugar industry is generally blamed for the price hike, whereas the ground reality is that as soon as the sugar sacks leave the mill premises, they become the plaything of wholesalers and retailers.
He stated that speculators, profiteers, and hoarders are manipulating the market prices by spreading rumors and putting the entire blame on the sugar industry. He alleged that “this speculator mafia has various social media groups which speculate on prices”.
The spokesperson added that wholesalers and retailers have set different profit margins on a region-by-region and market-by-market basis.
He claimed that sugar is being sold at Rs130 per kg in the Ramadan bazaars.
In a statement, a PSMA spokesperson said that the real beneficiaries of the artificial price hike are speculators, hoarders, and profiteers who spread rumors to distort the interplay of market forces to make undue profits on the sugar available to them.
The association said that ‘mills are providing sugar at Rs130 in all districts and tehsils through Ramadan package discount stalls in collaboration with the federal/provincial governments and district administrations’.

Gold prices drop in two days
- a day ago

Why world models are the next big thing in AI
- 13 hours ago

Bringing justice closer to the people, SC launches new public facilitation portal
- 4 hours ago

Netflix’s Frankenstein jolts the classic tale with del Toro’s signature flair
- 13 hours ago

Pokémon Legends: Z-A Rotom Phone review: better camera, higher jumps
- 13 hours ago

KP's fight against a changing climate, conditions are worse in the last 15 years
- 6 hours ago

Sanae Takaichi was elected Japan's first female prime minister
- 4 hours ago

Spotify says it’s working with labels on ‘responsible’ AI music tools
- 13 hours ago

UAB, interim Mortensen shock No. 22 Memphis
- 12 hours ago

Sources: Vols' Vitello favorite to land Giants job
- 12 hours ago

Bollywood veteran actor Asrani passed away at the age of 84
- 4 hours ago

Fictional gadget reviews: exploring the latest in fantasy and sci-fi tech
- 4 hours ago