Sugar prices in Pakistan are falling after sugarcane was processed in mills this season. Wholesale rates have dropped, and the retail market is expected to follow. Officials say sugarcane supply is good, which could further reduce prices.
Asim Sheikh, a member of the Sugar Dealers Association, says the current wholesale rate of sugar is Rs 160 per kg, while the retail rate stands at Rs 165 per kg.
He added that sugar being sold for January deliveries is priced at Rs 144 per kg. So far, about 200,000 tons have been sold from the 300,000 tons of imported sugar.
Market Supply and Future Outlook
According to Sheikh, sugarcane and sugar stocks are abundant. This could push prices down further in the coming weeks. Sugar millers are expected to earn extra income this year as they produce sugar from good-quality sugarcane.
He also mentioned that in the past, sugar was exported unfairly, which caused local prices to rise. Bringing in 300,000 tons of imported sugar helped control the prices, and the bureaucracy earned revenue from the imports.
With plentiful supply and ongoing market adjustments, the price of sugar may continue to decrease, benefiting both traders and consumers.
