The price of sugar has seen a sharp increase of at least Rs. 11 per kilogram over the past three months across Pakistan, pushing prices to an average of Rs. 145 per kilogram in January 2025.
Sources blamed the current price hike on the Economic Coordination Committee’s (ECC) decision last year to permit sugar exports.
In October 2024, sugar prices averaged Rs. 135 per kilogram. However, the ECC’s approval to export 500,000 tons of sugar in the same month contributed to the subsequent price surge of the essential commodity. In the current month, the average rate ranges between Rs. 145-165 per kg.
Earlier, in August 2024, the ECC first allowed the export of 100,000 tons of sugar, with the condition that prices would remain stable. Despite this, market rates have soared higher than expected rates.
Other sources informed ProPakistani that the current spike is allegedly a ploy by dealers to earn big margins ahead of the Holy month of Ramazan. They said those involved intend to pocket the highest possible income before the holy month before prices could retreat arbitrarily to compensate for state-controlled amnesty schemes.