KARACHI: In the wholesale market, sugar has witnessed reduction in its price, being sold at Rs. 170 per kilogram.

This decline in sugar prices is attributed to anti-smuggling measures, which have led to sugar being available at rates as low as Rs. 170 in the wholesale market.

In the retail market, sugar is currently being sold at prices ranging from Rs. 175 to Rs. 178.

Dealers say that if the wholesale price of sugar continues to decrease, it is likely to result in a corresponding reduction in retail prices.

Previously, sugar prices in Karachi had surged to an unprecedented high of Rs. 195 per kilogram, contributing to the ongoing weekly rise in inflation. While sugar was available in the retail market at prices between Rs. 185 and Rs. 195 per kilogram, the wholesale market has now experienced a slight drop, with sugar being priced at Rs. 178 per kilogram, down from its previous rate of Rs. 180.

Chairman of the Wholesale Grocers Association, Rauf Ibrahim, has pointed out that the increase in sugar prices was artificially induced by sugar hoarders and the so-called “sugar mafia” who created an artificial shortage of sugar in the market.

It is worth noting that despite reports suggesting a potential sugar shortage in Pakistan, the Ministry of Commerce and Industries has refuted these claims. This response came after reports surfaced indicating Pakistan’s consideration of sugar imports from Brazil.