Mills offer to sell sugar at Rs130 per kg

Pakistan Sugar Mills Association to sell discounted sugar at Rs130/kg for Ramazan, urges action on speculators.

LAHORE:

Pakistan Sugar Mills Association (Punjab Zone) has said that the sugar industry appreciates and supports efforts of federal and provincial governments to provide the cheapest possible sugar to consumers in Ramazan and it will make discounted sugar available at Rs130 per kg through sale points to be established throughout the country.

Commenting on current sugar prices, a spokesman for the association said in a statement that sugar prices were mainly controlled by market forces of demand and supply. However, market sensitivities are influenced by speculators by spreading false and exaggerated news to make money at the cost of consumers, sugarcane farmers and the sugar industry.

"The sugar industry appeals to the government to uproot these elements and take action against speculators," he said.

Following last year's sugar exports, the spokesman claimed, local prices of sugar went down and remained depressed. No sugar exports have been allowed during the current crushing season.

He said the sugar industry of Pakistan was providing the world's cheapest locally produced sweetener in spite of low sugar recovery, low sugarcane yield and high taxes and production costs.

According to the industry, inflationary trends have greatly impacted the cost of sugar production since 2021. In the current crushing season too, the price of sugarcane has reached Rs600 per maund and the season's average so far is around Rs500, "which is much higher than the regulated minimum support price of last crushing season".