Sugar mills across Sindh have suspended supplies to the provincial capital since Tuesday, disrupting wholesale markets and raising concerns over a possible price hike. The sudden halt has thrown wholesalers into uncertainty, as securing sugar at stable prices has become increasingly difficult, reported The Express Tribune.
According to Rauf Ibrahim, Chairman of the Wholesale Grocers Association, the ex-mill price of sugar was Rs 175 per kg as of Monday, while the wholesale rate stood at Rs 179 per kg. However, with the disruption in supply, sugar is no longer available at these rates, leading to chaos in the market.
Ibrahim accused sugar mill owners of manufacturing an artificial crisis by deliberately holding back supplies to inflate prices. He alleged that millers are hoarding stock in hopes of selling it at significantly higher rates once market demand intensifies.
“Imported sugar takes a minimum of three weeks to reach the country, leaving no immediate alternative to the local supply,” said Rauf Ibrahim, highlighting growing concerns within the wholesale market. “As a result, there is currently no stable pricing for sugar in Karachi’s wholesale markets. This level of uncertainty creates a real risk of a sudden price surge,” he added.
