Tuesday, March 11 2025

Govt to import raw sugar to ‘stabilise prices’
Barely a few weeks after exporting half a million tonnes of sugar, the federal government on Monday decided to import raw sugar to “stabilise prices” in the country. According to an official statement, the import of raw sugar (Shakkar) would help bring down prices in the country and help increase future production, as it could be refined and converted into sugar locally. Interestingly, the export permission was granted after the industry promised to keep domestic prices between Rs145 and Rs150 per kilogram. However, prices have increased to over Rs180 per kg in the last 10 days. According to market observers, this kind of price surge during the crushing season is not only unprecedented, but also highlights the government’s lack of effectiveness and the industry’s credibility.
Related news categories: business economic-indicators misc sugar

Thursday, March 06 2025

Sugar price surges to Rs170 per kg
The retail price of sugar has surged to Rs170 per kg in Karachi, Lahore, and Islamabad due to a rise in wholesale rates amid strong demand in Ramazan. Retailers in Karachi feared that the price may hit Rs200 if a bullish trend persists in the wholesale market. However, wholesalers blame millers for increasing the rates. In a week, the wholesale rate swelled by Rs15 to Rs155 per kg in Karachi. Earlier in February, the average national price of sugar was Rs145-160 per kg. Meanwhile, the Pakistan Sugar Mills Association (Punjab Zone) spokesman has claimed that there has been no abnormal increase in the ex-mill price as it fluctuates due to demand and supply factors. Usually, the sugar industry is blamed for the price hike. While the ground reality is that as soon as the sugar sacks leave the mill premises, it will become the game of the wholesalers and retailers, the spokesman explained. He stated that speculators, profiteers, and hoarders are manipulating market prices by spreading rumours and shifting all the blame to the sugar industry. “This satta mafia has different social media groups that speculate on prices,” he alleged.
Related news categories: business economic-indicators misc sugar

Monday, March 03 2025

PM wants sugar, other commodities sold at lower prices
Prime Minister Shehbaz Sharif has said that the provision of sugar and other essential items to people at low rates is the top priority of his government. Presiding over a meeting in Lahore on the supply of sugar and price control in the country on Sunday, the premier recalled that the government in previous months had taken strict action against sugar smuggling, which bore fruitful results. He directed the authorities concerned to take solid steps to control the price of the commodity besides taking stern action against elements found involved in its hoarding. PM Shehbaz issued directive for the preparation of a strategy to ensure the provision of commodity and other essential items at reasonable rates. “The federal and provincial governments should make joint efforts to ensure the provision of essential items to the common man at low rates,” he added.
Related news categories: business economic-indicators misc sugar

Thursday, February 27 2025

Wholesale sugar price continues to increase
As the federal government and millers plan to provide sugar at Rs130 per kg nationwide, the wholesale price of the sweetener continues to rise ahead of Ramazan. Retailers in Karachi are already charging Rs160 per kg, saying that they could not sustain frequent hikes in wholesale rates as the 50 kg bag price has continuously risen by Rs150-200 per bag for the last few days. Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim said the wholesale rate has risen by Rs13 to Rs154 per kg in the last three to four days as speculators and investors have become active to make windfall during Ramazan when demand for sugar surges to 1.1m tonnes from 550,000 tonnes.
Related news categories: business economic-indicators misc sugar

Wednesday, February 19 2025

Mills offer to sell sugar at Rs130 per kg
Pakistan Sugar Mills Association (Punjab Zone) has said that the sugar industry appreciates and supports efforts of federal and provincial governments to provide the cheapest possible sugar to consumers in Ramazan and it will make discounted sugar available at Rs130 per kg through sale points to be established throughout the country. Commenting on current sugar prices, a spokesman for the association said in a statement that sugar prices were mainly controlled by market forces of demand and supply. However, market sensitivities are influenced by speculators by spreading false and exaggerated news to make money at the cost of consumers, sugarcane farmers and the sugar industry. "The sugar industry appeals to the government to uproot these elements and take action against speculators," he said. Following last year's sugar exports, the spokesman claimed, local prices of sugar went down and remained depressed. No sugar exports have been allowed during the current crushing season.
Related news categories: business economic-indicators misc sugar