Sugar price continues to shoot up

RAWALPINDI:

The dreaded increase in sugar prices has started to raise its head again, with the essential commodity’s rates going up as much as thrice a day in the open wholesale market.

With a bag of sugar currently being sold with a Rs350 increase per bag and Rs7 increase per kg, consumers living within the city are being forced to buy sugar at the rate of Rs100 per kg from retailers, while those living in the suburbs had to purchase it for Rs110 per kg.

The word in the market is that there will be a further Rs50 hike in sugar per bag on Saturday (today), while the wholesale price per kg will go up to Rs90. The first increase in price took place on Thursday morning, with a Rs50 hike in a 100kg bag of sugar. By the afternoon, there was a further increase of Rs100 on the bag and just before the day closed, sugar bags were being sold for Rs200 up from the previous day. Despite the mandi being closed on Friday, a similar hike in price was seen yesterday, with a bag of sugar been sold for Rs8,750.

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Kiryana Merchant Association President Pervez Butt commented that the administration has seemingly lost control over the prices of sugar, with dealers increasing the prices as they pleased.

He said that he fears that by the end of the current month, if prices are not controlled, retailers will have no choice but to sell sugar at the rate of Rs120.

Published in The Express Tribune, December 18^th, 2021.