The price of sugar increased to an all-time high of Rs195 per kg, as weekly inflation accelerated.
Sugar price reaches Rs195kg in Karachi: Details indicate that the price of the sweetener in Karachi’s retail market ranges from Rs185 to Rs195, while it has fallen to Rs178 per kg from Rs180 in the wholesale market.
Retailers are still selling sugar at their chosen rate notwithstanding the drop in the wholesale market price.
Rauf Ibrahim, the head of the Wholesale Grocers Association, claimed in a statement that the sugar mafia and hoarders artificially limited the quantity of sweetener on the market.
According to earlier reports, Pakistan’s shortage of sugar has been disprove by the Ministry of Commerce and Industries.
The statement followed reports from reliable sources that Pakistan wanted to purchase sugar from Brazil.
According to ministry sources, Pakistan has more than 2 million metric tonnes of sugar on hand, which will last the nation till December.