Lahore: Pakistan Sugar Mills Association (PSMA) has pointed out to the market forces for rising sugar prices in the domestic market, reports International The News.
Multiple stakeholders are involved while fixing the retail prices of the sugar which are beyond the control of sugar mills, said a spokesperson of PSMA.
In the last crushing season, the government had increased the minimum support price of sugarcane from Rs.225 per 40-kg to Rs.300 per 40- kg (a 33 percent increase), mainly responsible in jacking up the cost of production of sugar to Rs.130 per kilogram.
While fixing the sugarcane prices in April 2023, the present government did not consult the sugar industry or the actual cost of sugar production was considered, said the PSMA spokesperson.
