Lahore: Sugar prices surged to a historic peak of (PKR) Rs 160 per kilogram in retail markets across various regions of the country on Friday, according to dunyanews.
As per sources in the market, sugar is currently being sold at an arbitrary rate within the city. A 100-kilogram sack of sugar is being retailed for Rs 15,000 to Rs 15,200. The price set by sugar mills stands at Rs 14,200 to Rs 14,400 for every 100 kilograms.
A few months earlier, the federal government had established a sugar rate of Rs 98.82 per kilogram. However, this rate could not be implemented due to an ongoing court case.
The Punjab Cane Commissioner had extended an invitation to representatives from the Sugar Mills Association to discuss the fixation of the sugar rate.
Nevertheless, the sugar mills declined to engage in negotiations until the court case was resolved.
Sources have indicated that the price of sugar has risen since the commencement of the new crushing season, primarily due to the escalation in the support price of sugarcane.
In comparison to the previous year, the cost of sugar has risen by Rs 60 per kilogram.
