Sugar Prices and Sugar Barons

Sugar Prices and Sugar Barons

Media Category: Print
Media Organization: Geo Television Network Pakistan
By: Zahid Gishkori

Sugar prices surprisingly soared by over fifty percent (50%) since Pakistan Tehreek-e-Insaf’s (PTI) came to power, thus witnessing a record hike in the country’s recent history. Consequentially, sugar millers & middlemen earned around Rs155 billion additionally from Oct 2018 to Dec 2019, presuming annual consumption of sugar at 5,500,000,000 kilograms. This windfall was in addition to normal trade profit and after accounting for additional sales tax. Sugar prices soared from Rs53 to Rs80 per kilogram in past fourteen months in retail market while its wholesale trading price went up from Rs47 to Rs68 during that period.