LAHORE: Sugar prices registered a gain of Rs 100 per 100 kilograms while edible oil/ghee prices showed a decline of Rs 25 per 16 kilograms in Akbari Mandi on Thursday.
According to Hamid Akmal, a ghee and sugar wholesale trader of Akbari Market, ghee prices of grade one declined by Rs 45 in last two days as it came to Rs 4175 on Thursday from Rs 4220 two days ago. Likewise, grade II ghee/oil prices declined from Rs 3975 to Rs 3925 while grade III prices fell to Rs 3850 from Rs 3900 showing a decrease of Rs 50 each in both categories in last two days.
Hamid said the prices’ decline is being attributed to decline in the international prices of palm oil.
Lahore Sugar Dealer Association President Asghar Butt while talking to this scribe said that white refined sugar prices started showing upward trend some two days back. He said the commodity was being traded at Rs 8500-8600 per 100 kilograms two days back which jumped to Rs 8700 per 100 kilograms on Thursday. Asghar Butt and Hamid Akmal said that sugar millers were quoting shortage of sugarcane as the main reason in increase in the prices.
Ghee prices in the retail market are yet to show the downward trend. When contacted, Naveed Shafiq, a retailer from Nawabpura area of the metropolis said that all categories of ghee are being sold at the same old price i.e., Rs 297 per kilogram (Grade-I brands) and Rs 250 per kilograms (rest of the brands). Similarly, he said though sugar prices registered increase today and he bought 50 kilograms bag at Rs 4350, sugar in retail is still being sold at Rs 95 per kilogram.
Copyright Business Recorder, 2021
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