Sugar rises to Rs 80 per kg

Sugar prices continued upward trend in the wholesale market and touched the mark of Rs 80 per kg on Saturday against Rs 78.40 per kg of Friday. According to dealers from Akbari Mandi, prices of 100 kg bag reached rose to Rs 7980 to 8000 per bag on Saturday, while the ex-mill rate of a 100 kilogram bag rose to Rs 7900 per bag.
Shopkeepers of Akbari said that brokers and millers were making shortage of the commodity as an excuse for rise in prices, but any shopkeeper can get as much sweetener as he likes when the brokers or millers are offered price of their choice. Lahore Sugar Dealers Association President Asghar Butt, while talking to Business Recorder, said that in August sugar was available at Rs 69 per kilogram in Akbari Mandi.
But on 4th of Ramazan it rose to Rs 72 per kilogram and now on 24th day, it touched Rs 80 per kilogram. He said that sugar was becoming bitter and bitter for the consumers after every passing day. Two other sugar dealers, Rauf Malik and Hamid Akmal, said that shortage of commodity was being quoted by the millers and dealers as basis for increase in the prices. Hamid Akmal said that Rs 120 per 100 kilogram had been added today in the prices of the sugar.
The Pakistan Sugar Mills Association (PSMA-Punjab) Chairman Javed Kayani said that it showed that the Trading Corporation of Pakistan (TCP) had failed to maintain strategic reserves of this commodity. "Prices were increasing due to shortage of this commodity. The Trading Corporation of Pakistan (TCP) during the previous regime used to keep strategic reserves and off-load the commodity in the market time to time when it notice increase in the prices, which help stabilise the prices," Kayani said.
He said that they were asking for import of raw sugar since December 2001. He said now the government should immediately import raw sugar to meet the demand. He said that the country had stock for the month of September. But he feared that severe shortage would occur in the month of October if raw sugar was not imported.
Kayani said that 20 percent of the sugarcane crop had been damaged, while water was standing in the field due to which sugarcane recovery would also decrease. As the next crushing season is fast approaching it is imperative to take immediate steps to pre-empt shortages and ensure availability of sugar at reasonable rate to the general public, Kayani added.