Sugar price reaches Rs8800/100kg

RECORDER REPORT

LAHORE: Price of white refined sugar price on Wednesday reached the level of Rs 8800 per 100 kg in the wholesale market adding Rs 2 per kilogram as against the price of Rs 8600 per 100 kg on Tuesday.

The price of sugar is rising unbridled for the last 10 days during which it reached to today’s level of Rs 88 per kilogram in the wholesale market from Rs 71 per kilograms, said the Lahore Sugar Dealers Association (LSDS) President Asghar Butt while talking to Business Recorder. 

He said that there is no justification in such a jump in the price of sugar. He held both the millers and administration responsible for this increase saying no one seemed to bother to take notice of it.

Another sugar dealer, Hamid Akmal said that the millers were quoting increase in the sugarcane price as well as its short availability as the reason for this upward journey of sugar prices.

Meanwhile, the retail price of sugar has also once again crossed the Rs 90 mark. 

Naveed Shafiq, a shopkeeper in Harbanspura area said that the commodity is being sold at Rs 90 to 95 per kilogram at shops. ‘How we can sell it cheap when we are buying it at Rs 86–88 per kilogram from the wholesale market and after adding transportation charges and other overheads,’ he remarked. Punjab Cane Commissioner Office sources termed the increase in prices because of cartelization by the sugar millers.