ISLAMABAD, July 23 (China Economic Net) - According to the data of Sensitive Price Index, sugar prices soared to Rs98-110 per kg in major cities of Pakistan in fiscal year 2021 as compared to Rs78-85 in the preceding year. Thus consumers have to pay Rs20-25 more.
Touching upon why the sugar prices increased, Iskandar Khan, Central President of Pakistan Sugar Mills Association, said “when mills buy expensive cane from the middleman, automatically sugar prices rise. So later it’s found that the recovery of sugar cane will be reduced this season. In the present price of sugar, 80% is the price of sugarcane.”
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21. Reuters/File
KARACHI: Despite higher sugar production and heavy imports, consumers paid Rs20-25 more to buy a kilo of the sweetener in 2020-21.
In another development, the wholesale price in Karachi’s Jodia Bazaar rose to Rs100 per kg from Rs92 in the first week of the latest fiscal year, which starts on July 1, forcing the retailers to charge Rs105-110 per kg depending on the area.
According to the data of Sensitive Price Index (SPI), sugar prices soared to Rs98-110 per kg in major cities of Pakistan in FY21 as compared to Rs78-85 in the preceding year.
This file phot shows a deserted Jodia Bazaar. Fahim Siddiqi/White Star
KARACHI: Jodia Bazaar, the country’s oldest and biggest wholesale market of essential goods, remained shut on Thursday as traders protested against the decision of Additional Commissioner (AC) Karachi to sell commodities at three-year old rates.
The AC further imposed heavy fines on traders for selling goods at higher rates which led to a strong protest by wholesalers.
Talking to
Dawn, Chairman Karachi Wholesalers Grocers Association (KWGA), Abdul Rauf Muhammad Ebrahim said Jodia Bazaar, a hub of wholesale market comprising over 500 shops, would remain closed on Friday due to the lockdown. KWGA will decide on the future course of action in the coming days, he said, while adding that the association has not received any message for negotiations with the price regulator.