Sugar price up by Rs18 per kg

LAHORE : The wholesale price of sugar has been increasing on daily basis for the last several days.

As per wholesale prices of 12 markets in the province, which was collected by the provincial Directorate of Agriculture Economics & Marketing, after showing spiral trajectory during the last three days alone, the average sugar price increased by Rs 120 per kg. Black-marketing by stockists and short supply are being blamed for the price surge that has collectively resulted in jump of Rs18 per kg in the price in about a week. Despite some administrative measures being taken by the authorities, upward trend in sugar price is continuously being seen. Due to speculation, the wholesale rate of sugar rose from Rs 6100 per 50-kg to Rs 6,550 after Eid. According to allegations leveled by officials, the reason for unavailability of sugar in the market at affordable rates is nothing but cartelization by certain elements. A spokesman of Pakistan Sugar Mills Association (Punjab Zone) said that mills are not responsible for the price hike.