Inconsistency found in price of sugar

There is an inconsistency in the retail sugar price between average price of the commodity calculated by government and in the open market. According to market sources, the sweetener's price is ranging between 72 to 74 per kg in the open market while the average price calculated by Pakistan Bureau of Statistics (PBS) is 64.12 per kg which is also quoted in the Ministry of Industries and Production its official document.
When contacted, Asif Bajwa Chief Statistician of PBS said that PBS is taking average price of the commodity from markets across the country and not from one city. The PBS average price is also different from the price charged by the Utility Stores Cooperation (USC), he said.
According to an official document of Ministry of Industries and Production, during the sugar season 2016-17 local mills produced 2.89 million tons of sugar and stocks from previous year stood at 0.27 million tons. Total stocks available with the sugar mills have been quantified at 3.17 million tons out of which 0.69 million tons have been sold and the balance stock with sugar mills as on February, 3, 2017 are estimated at 2.47 million tons. This is sufficient up to July 28, 2017 at consumption rate of 0.4 million tons per month, the document revealed.
It says that the international sugar price of refined white sugar was US $546.90/tons (Rs 57.31 per kg) on February 3, 2017. There are 84 sugar mills in the country with an annual sugar production capacity of 6.8 million tons. The sugar crushing season starts from November to October.
According to the document, out of total 2.89 million tons sugar produced in 2016-17, Punjab produced 1.91 million tons, KPKP 0.21 million tons and Sindh 0.78 million tons. Out of the total stock of 3.17 million tons of the commodity, Punjab has 1.93 million tons, Sindh 1.03 million and KPP 0.211million tons, it says.
The sugary industry exported 2.49 million tons of sugar from 2011-2012 to 2014-15. The Economic Coordination Committee (EEC) of the cabinet has allowed a further 0.5 million ton sugar exports of which 0.254 million tons had been exported till March 17, 2016.