Sugar prices in Uzbekistan have skyrocketed causing anger and frustration in the bazaars and supermarkets of the country. Consumers are standing in long queues to buy the commodity.
According to the media reports, the situation is being manipulated by some buyers to hoard sugar for resale.
In June sugar is purchased by consumers in Uzbekistan to prepare compote for winter or to prepare jam as the fruits required for it ripen during the summer season.
According to government authorities, there are enough sugar reserves to meet domestic demand and some people are creating panic situations unnecessarily.
The geopolitical situation in the world has created problems for logistics leading to the increase in the transportation cost of ships and rail by an average of 8-10%, according to the government officials.
Angren and Khorezm sugar refineries produce sugar at the domestic level. Media reports state that every day, 2,000 tonnes of sugar are put on the stock exchange. During June 1-9, 14,000 tonnes were put under the hammer, everything was sold. The initial price was UZS 8,900 ($0.81), then the price rose to UZS 13,000($1.18) . We have two factories in the republic that produce sugar.
