Sugar prices in Pakistan remain high, exceeding Rs164

Consumers in Pakistan are still facing high sugar prices, despite Deputy Prime Minister Ishaq Dar's recent announcement to cap prices at Rs164 per kilogram. In many cities, the average price remains between Rs164 and Rs180 per kg. Rauf Ibrahim, president of the Karachi Wholesalers Grocers Association, noted that the wholesale price briefly dropped to Rs158 per kg after Prime Minister Shehbaz Sharif called for action against hoarders. However, this reduction did not reach consumers, as retailers continued to profit during the high-demand month of Ramazan. Ibrahim criticized the government's inaction, saying that it has not effectively monitored sugar mills and has left retailers unchallenged. A spokesman for the Pakistan Sugar Mills Association claimed that miscommunications link high sugar prices to exports. He explained that, as of September 2024, there was enough sugar to sustain the market without reliance on exports. The spokesman emphasized that allowing sugar exports was necessary to prevent industry collapse and argued that prices should not be linked to exports. He also highlighted the rising sugarcane prices farmers received, which were reportedly the highest in history. The association has requested that independent auditors verify the production costs of sugar to ensure fair pricing. Additionally, it has proposed a dual pricing system, as the commercial sector consumes most of the sugar but is currently unregulated.