A good news for sweet tooths yearning for siwayyan, sheer khurma and mithais is that the price of sugar dropped by Rs9 per kilogram in a single day.
Traders attributed the slump in white sugar rates to the government's crackdown against hoarders during the holy month of Ramazan.
According to Karachi Wholesale Grocers Association Chairman Abdul Rauf Ibrahim, the price of sugar in the wholesale market Jodia Bazaar decreased from Rs168 per kilogram to Rs159 per kilogram. The ex-mill price of sugar also decreased to Rs156 per kilogram due to the crackdown. In the retail market, sugar is being sold for Rs175-180 per kilogram.
Ibrahim further stated that the country has a sufficient stock of sugar, and no sugar exports are being made in order to meet local demand. He added that the government has fixed the sugar rate, putting an end to hoarding. It is expected that sugar prices will decrease further in the coming days.
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