KARACHI: The price of sugar in Karachi’s retail market has soared to Rs160 per kg, prompting traders from Jodia Wholesale Market to call for a ban on sugar exports to control rising costs.
According to Wholesale Grocers Association Chairman Rauf Ibrahim, sugar prices in the wholesale market have risen to Rs150 per kg, with advance deals for March reaching Rs152/kg. Traders blame the hoarding mafia for the spike and warn that prices may rise further with Ramazan approaching.
Pakistan’s monthly sugar consumption is approximately 550,000 tons, but it doubles to 1 million tons during Ramazan. Since December, sugar prices have increased by Rs26 per kg, and last year, profiteers drove rates up to Rs180 per kg. Even at utility stores, sugar prices have recently gone up by Rs5, now reaching Rs145 per kg.
The Pakistan Bureau of Statistics (PBS) reports that Islamabad, Rawalpindi, and Karachi are experiencing the highest sugar prices at Rs160 per kg, while in Gujranwala, Sialkot, Khuzdar, and Quetta, sugar is priced at Rs155 per kg. In Faisalabad, Sargodha, Multan, and Larkana, the rate is Rs150 per kg, and in Hyderabad, it stands at Rs148 per kg. The lowest prices, around Rs145 per kg, are seen in Bahawalpur, Sukkur, and some other cities.
Traders warn that if the government does not intervene, sugar prices could further escalate during Ramazan, putting an additional financial burden on consumers.
