KARACHI – In a setback for the public already grappling with soaring inflation, sugar prices have surged by Rs 10 to Rs 15 per kilogram across the country as of Friday.
Speculators and hoarders have been actively influencing the market since the start of the week, driving up sugar prices. As a result, large retailers are now selling sugar at Rs 130 to Rs 135 per kilogram, while the ex-mill rate has increased to Rs 115 to Rs 125. Smaller retailers are pricing sugar between Rs 140 to Rs 150 per kilogram, reflecting a rise of up to Rs 20.
Dealers predict that the wholesale price of sugar could reach Rs 128 per kilogram in December, with a potential increase to Rs 133 in January. Furthermore, some reports suggest that under the guise of future trade, the price may rise by an additional Rs 8 in January.
