Karachi: Sugar rates in Pakistan are likely to remain high as the sugar output is expected to lower this year with an increase in the cost of production.
Jahangir Khan Tareen, PTI leader and owner of JDW Sugar Mills sent a report to the Pakistan Stock Exchange on Feb 2 stating that the prices of sugar in the market will continue to remain higher. The government, however, wants the sugar mills to sell sugar at the rates below the sugar production cost.
Since the beginning of the crushing season, the prices of sugar have fallen to an average Rs 80 per kg. However, in some parts of the country like Islamabad and Rawalpindi, the prices have risen to Rs 100 per kg.
At the beginning of the last year the sugar prices had shot up to Rs 110 per kg and the government blamed the sugar mafia for the rise of the commodity.