KARACHI: Retailers have pushed up the sugar price to Rs65 per kg despite a fall in its wholesale rate to Rs58 from Rs61-62 a few days back.

Earlier this month, retailers were charging Rs60-62 a kg when the wholesale rate was Rs56.50, which then climbed to Rs60-61.

Retailers claimed that they have purchased the commodity at Rs61-62 per kg and their stock would take time to deplete.

However, a wholesaler said that the government should check the rates at retailers’ end due to a huge price difference.

With over 2 million tonnes of stock and declining global sugar prices consumers were still paying higher prices for the commodity, he said, adding that the sugarcane crushing would continue till April 2016.

Sugar price has been climbing since the government doled out Rs6.5 billion (Rs13 per kg) export subsidy to the millers in December 2015, when the retail price was Rs55 a kg.

Published in Dawn, February 13th, 2016