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Business & Finance

Sugar rate jumps yet again

  • Abdul Rauf Ibrahim, chairman of the wholesale market, said that the condition of NTN would make it easier to identify hoarders.
07 Jan 2021

Despite imports and increase production, the price of sugar has started rising again.

As per details, sugar is being sold at Rs 85 to Rs 87 per kg in the markets of Karachi, while the price at the retail end has gone up to Rs 90.

Abdul Rauf Ibrahim, chairman of the wholesale market, said that the condition of NTN would make it easier to identify hoarders.

Earlier, the spokesman of Pakistan Sugar Mills Association (PSMA) while commenting on the high sugarcane prices and lower recovery of sugar in cane has said that when the federal government had decided to force the mills to start crushing by 10th November 2020 in the South Punjab and and by 15th November 2020 in Central Punjab, in spite of the fact that Sugar Factories Control Act 1950 clarified that the crushing has to commence not later than 30th November of each year.

Meanwhile, the wholesale price of sugar in Karachi is Rs 84 and the retail price is Rs 90 per kg.