Sugar prices up by Rs11 per kg in three months
Business
Decision for exporting sugar is stated to be the reason for the price hike
ISLAMABAD (Web Desk) - Sugar prices in Pakistan have seen a significant increase, rising by at least Rs11 per kg over the last three months, pushing the average cost to Rs145 per kg in January 2025.
It is suggested that the price hike can be traced back to the Economic Coordination Committee’s (ECC) decision in October 2024 to approve sugar exports.
At that time, the price of sugar averaged Rs135 per kilogram, but the ECC’s approval for exporting 500,000 tons of sugar has contributed to the sharp rise in prices, which now range between Rs145 and Rs165 per kilogram.
This move followed an earlier decision in August 2024, where the ECC authorized the export of 100,000 tons of sugar with assurances that domestic prices would remain stable. However, contrary to those expectations, sugar prices have surged significantly.
Other reports suggest that the current price increase may also be part of a strategy by dealers to maximize profits ahead of the Holy month of Ramazan.
It is believed that the price surge is intended to capitalize on demand before any potential price adjustments are made, especially in light of state-controlled amnesty schemes that might offer price relief closer to the holy month.
