As the price of sugar continues to shoot up in the market with the sugar mills mafia looting people with both hands and the commodity running short in the market, it has been decided to import 100,000 metric tonnes of from Brazil.
The Trading Corporation of Pakistan has written a letter to import sugar from the South American country.
Earlier, sugar had been exported in June, while now preparations are being made to import it in September.
However, there are fears of the price of the commodity increasing in the market after its import. Sugar is likely to reach Rs200 per kilogram.
Sources have said that there is a severe shortage of sugar in the country after it was exported. In November 2022, the price of sugar was Rs91 and after its export, the price reached Rs180.
Now, after 100,000 tonnes are imported, its price is feared to increase further.
Food Secretary Zaman Wattoo said that due to the recent increase in the price of sugar, the masses were burdened with Rs47 billion.
Meanwhile, the price of sugar continues to rise, as it touches the point of Rs170 per kg in the retail market. In four days, the price has gradually increased by Rs10 per kg.
The price of sugar in the wholesale market is Rs16,400 per 100kg. The rate from different sugar mills is Rs15,800 to Rs16,000 per 100kg.
There is still no official rate of sugar in the market, while there is also a possibility of further acceleration in the rates.
Moreover, in view of the market situation, the export of sugar has been banned.
