KARACHI: As the nation gets ready for Ramadan 2025, the wholesale price of sugar continue to increase across the country after government vowed to provide sugar at reduced rates.
According to media reports, the government along with sugar millers aimed to set the sugar price at Rs130 per kg across the country.
However, sugar is available at wholesale retail stores for Rs160 per kg in Karachi. Retailers cite continuous hikes by Rs150-200 per bag in the wholesale rates of sugar for the last few days.
Karachi Wholesalers Grocers Association (KWGA) Chairman Rauf Ibrahim stated that there has been continuous hike in wholesale sugar prices for the last few days. He citied investors’ and hoarders attempts at make financial gain ahead of Ramadan 2025 as the main reason for the sudden hike in sugar prices.
It must be highlighted that traditionally commodities’ demand surge during Ramadan as sugar demand increases to 1.1m tonnes from 550,000 tonnes.
The Chairman further added: “The federal and provincial governments need to wake up and intensify crackdown on sugar mafia, middlemen and the hoarders to recover huge stocks of sweetener piled up in godowns.”
He warned that price of sugar may surge to Rs200 per kg during Ramadan provided the government does not take any serious action against hoarders. He also advised the authorities to collect the relevant productions and sales data from the source of origin – sugar mills.
According to KWGA Chairman, the authorities raided a storage facility in Karachi on Wednesday which led to recovery of around eleven thousand sugar bags weighing 50kg each.
According to the Sensitive Price Index (SPI), the sugar rates have increased from Rs145-160 per kg to Rs150-165 per kg in just one month while the rates stood at Rs130-150 per kg in early January.
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