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Sugar production in November 2020 stood at 458,435 tonnes after the start of sugarcane crushing which further swelled to 1.423m tonnes during December 2020. File
KARACHI: Sugar is being retailed at Rs105-110 per kg in Karachi against Rs95-100 last week, while consumers in Lahore are paying Rs93-100 against Rs85-90 per kg.
Similarly, in Quetta the sweetener is available at Rs105-106 per kg as compared to Rs95-97 last week.
Karachi Retail Grocers Group (KRGG) General Secretary Farid Qureishi said the wholesale rate of sugar is Rs97 per kg. But Karachi Wholesalers Grocers Association (KWGA) Anis Majeed said the wholesale rate is Rs94 per kg and retailers are minting money by charging Rs105-110 per kg.
In FY21, import of wheat and sugar to control skyrocketing prices of the commodities have played a major role in fuelling the overall import bill. AFP/file
KARACHI: Higher imports of food items boosted the overall import bill by 52 per cent to $3.9 billion in the first half of the current fiscal year (1HFY21).
In FY21, import of wheat and sugar to control skyrocketing prices of the commodities have played a major role in fuelling the overall import bill. However, the increase in imports of wheat, sugar and palm oil failed to provide any price relief to the masses.
The overall food import bill shrank by 4.32pc to $5.423bn in FY20 under the government’s plan to curb imports. There were no wheat imports in FY20. Volume of sugar imports was negligible in the same period.
Branded and unbranded ghee and cooking oil available in small and large packs and pouches at a retail shop in Karachi. White Star/File
ISLAMABAD: As vegetable oil and ghee rates remain volatile, mainly moving upwards, the stakeholders in the sector have demanded that the government revise duty structures to help maintain prices in the local market.
The Pakistan Vanaspati Manufacturers Association (PVMA) in a presentation sent to the ministry of industries on Wednesday informed the government that the price of processed ‘refined, bleached and deodorised’ (RBD) palm oil issued from Singapore was $787 per tonne at the start of 2020, it dropped to $512 per tonne in the first week of May 2020, but with supplies running short, it jumped to $750 in the first week of November 2020 and surged to $1,050 per tonne last week.
A stalemate persists between sugar mills, farmers and government authorities on the value of sugarcane. - Photo by Umair Ali/File
ISLAMABAD: As consumers continue to suffer from high prices of various commodities, a stalemate persists between sugar mills, farmers and government authorities on the value of sugarcane.
The middlemen, on the other hand, were earning significant profits due to the new law that required payments through bank accounts only.
Minister for Industries and Production Hammad Azhar on Saturday acknowledged that sugar prices were once again on the rise and said the government was considering abolishing import duties on raw sugar to ensure adequate stocks in the country at reasonable prices.