Pakistan Fixes New Ex-Mill Sugar Price, Approves Imports to stabilize Market
The Ministry of National Food Security and Research announced on Monday that the ex-mill price of sugar has been set at Rs165 per kilogram. This marks a Rs25 increase from the price fixed last June.
An official statement from the ministry indicated that the government and the sugar industry reached an agreement on this new ex-mill price. Provincial governments are directed to ensure the availability of affordable sugar to the public based on this decision.
Last week,the federal government approved the import of 500,000 tonnes of sugar. This move aims to maintain affordable prices for the commodity across the country. The committee’s approval of this import quantity is intended to guarantee a stable supply and keep prices accessible nationwide.
Earlier in March, Deputy Prime Minister Ishaq Dar had stated that retail sugar prices should not surpass Rs164 per kilogram. This directive followed a warning from the Competition Commission of Pakistan (CCP) to sugar mills concerning price manipulation. Reports at the time indicated a spike in sugar prices to Rs178-179, which was deemed unacceptable by the prime minister.
