Sugar price shoots up to Rs160 per kg
Business
Sugar price shoots up to Rs160 per kg
LAHORE (Dunya News) – Sugar prices on Friday spiked to a record high of up to Rs160 per kilo in retail markets in different parts of the country.
According to market sources, sugar is being sold at an arbitrary price in the city, 100kg sack of sugar is being sold in the market for Rs15,000 to Rs15200. The sugar mill rate is Rs14,200 to 14,400 per 100kg.
A few months ago, the federal government had fixed the rate of sugar at Rs98.82 per kg, but it could not be implemented as the matter is in the court.
The Punjab cane commissioner had also called the representatives of the Sugar Mills Association for negotiations for the fixation of sugar rate.
However, the sugar mills had refused to negotiate until the court case was settled.
Sources said the price of sugar had been increased since the new crushing season due to the increase in the support price of sugarcane.
Compared to last year, sugar has become expensive by Rs60 per kg.
