Vessel with 25,250 tonnes of sugar arrives

Updated 29 Oct 2020

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Porters load bags of sugar on an unidentified cargo ship at the Karachi seaport. — Reuters file photo
Porters load bags of sugar on an unidentified cargo ship at the Karachi seaport. — Reuters file photo

KARACHI: As the first vessel carrying 25,250 tonnes of sugar imported by the Trading Corporation of Pakistan (TCP) arrived on Wednesday, the wholesale price of locally-produced and imported sugar increased by Rs5 per kg to Rs95 and Rs98 respectively.

According to a TCP press release, the first vessel MV INCE EVERNYE docked at the Port Qasim on Wednesday and as per allocation intimated by the Ministry of Industries and Production, the entire quantity would be handed over to the Punjab Food Department directly from the port.

Karachi Retail Grocers Group General Secretary Farid Qureishi said wholesale price of locally-produced sugar was Rs93 per kg while retailers were selling it at Rs95-100 depending on the region. Now, retailers are demanding Rs105-110 per kg in various areas while some have not yet passed on the impact of rise in wholesale rates as they had stocks purchased at lower rates.

He said sugar demand has risen due to Rabi-ul-Awwal as many people make various sweet dishes. Farid claimed imported sugar (Dubai origin) also became costlier by Rs5 per kg in wholesale market.

Karachi Wholesalers Grocers Association Patron Anis Majeed said in addition to rising demand in Rabi-ul-Awwal, stocks of locally-produced sugar are depleting while millers are expected to start sugarcane crushing from November 15 onwards. He said prices of imported sugar also surged by Rs5 per kg to up to Rs95 due to rising demand.

Cereal Association of Pakistan President Muzammil Chappal said the price of imported sugar has not increased and importers had sold the commodity at Rs88-89 per kg to traders.

Published in Dawn, October 29th, 2020