Pakistan's sugar rates continue rising

Sugar rates continue rising in the wholesale and retail markets of Pakistan as the holy month of Rajab is coming when consumers will purchase the commodity in bulk for preparation of sweet dishes, local media reported Wednesday.

The price of the commodity is unlikely to come down in next few months specially when holy month of Ramazan is hardly one and half months away from now, according to local newspaper Daily Times.

Sugar's price in the wholesale markets some one month ago was at 57-58 rupees (one U.S. dollar equals 85 rupees) per kilogram after the latest upward revision, but now the price is at 63-64 rupees.

Retail price, as a consequence, also surged to 66-67 rupees per kilogram, compared to previous rates of 62-63 rupees.

The increase in the rates of the most essential commodity of every household has come as a financial jolt and consumers are already reeling under severe financial strain on the account of frequent increase in price of almost all items of daily use, the report said.

A sharp increase was seen in the rates of all food items since the beginning of June, including sugar, but this latest increase in the price of the sweetener is manifesting an alarming trend that its price would reach peak in the next months.

Source: Xinhua