ISLAMABAD (Kashmir English): The Wholesale sugar prices in Pakistan are trending lower as cane crushing in both Punjab and Sindh mills gains momentum.
Traders say the wholesale price of sugar in Karachi has slipped to Rs160 per kg from Rs190-200 when the season began. Prices in Punjab weakened to Rs155 per kg. In some cities retail price was quoted around Rs175 per kg.
However, many Karachi retailers are selling it for Rs190-210 per kg, stating the higher cost of procurement. Some also claimed that wholesalers charge Rs 10 per kg extra when supplying to the markets.
According to the weekly Sensitive Price Index (SPI) data, the national average sugar price fell to Rs170-212 per kg during the week that ended on Dec 4 against Rs176-229 a month ago.
According to Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim, prices can further decline as cane crushing reaches full swing. He also said that Pakistan’s sugarcane crop is 20% higher compared to last year, while almost all the mills are operational at this time.
