Punjab Govt Announces A Monthly Stipend Of Rs2000 For Citizens Above 65

• price of sugar in the wholesale market has come down to Rs 89 after a reduction of Rs 6-7 per kg.
• Abundance of sugar in the market due to import from abroad and routine start of the crushing process in the country, and therefore the price of sugar will fall further in the coming days.
• Hamad Azhar, while rejecting the claim of the Sugar Mills Association, said that there is no shortage of sugarcane in the country.

Fall in sugar prices in wholesale market

Wholesale price of sugar reduced by Rs 7 per kg

The price of sugar in the wholesale market has come down to Rs 89 after a reduction of Rs 6-7 per kg.

 

 

According to details, the price of sugar in Karachi’s Jodia Bazaar market has dropped from Rs 96 to Rs 89 during the last week, while in Lahore’s Akbari Mandi market it has come down from Rs 100 to Rs 93.

 

Ex mill and wholesale prices of sugar down by Rs 8/kg in a week. Early start of cane crushing season after many years and imported government sugar at control rates is leading towards normalisation of prices. https://t.co/TWNIHPiPhu

— PTI (@PTIofficial) November 20, 2020

According to a senior government official, there is an abundance of sugar in the market due to import from abroad and routine start of the crushing process in the country, and therefore the price of sugar will fall further in the coming days.

On the other hand, the Minister of Industry and Production, Hamad Azhar, while rejecting the claim of the Sugar Mills Association, said that there is no shortage of sugarcane in the country. He said, “According to the Cane Commissioner, this year’s sugarcane production is higher than last year.

The Pakistan Sugar Mills Association had expressed concern that due to shortage of sugarcane, the association may have to close its production units within a week. In many areas, the sugarcane harvesting process has not even started, Farmers are not even willing to sell sugarcane at the official rates of Rs 200 per man.

Responding to the concerns of sugar mills, he said that notified rates are the lowest rates. If the price goes up due to supply and demand of sugarcane, then sugar mills can buy sugarcane at the same price. When the mills talk to the owner about the increase in the price of sugarcane, they give the reason as supply and demand, but they back off from their position when buying sugarcane.

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