The price of sugar has witnessed a sudden hike in Karachi’s wholesale market just days before Ramadan.
According to wholesale dealers, the price of sugar per kilogram has increased by Rs5 in a single day, reaching Rs153 per kg on Wednesday. The price surge comes amid growing fears of hoarding and artificial shortages created by speculators in anticipation of increased demand during the holy month.
Market sources reveal that sugar prices have soared by Rs13 per kg in just three days. On Monday, the commodity was available at Rs140 per kg, but by Wednesday, it had jumped to Rs153 per kg. The sharp increase has fueled speculation that the sugar mafia is once again manipulating the market, taking advantage of the upcoming Ramadan season.
The speculators have disregarded the Karachi commissioner's warning and complaint cell, as citizens express frustration over the escalating costs of essential commodities. Despite previous government assurances of price stability, sugar prices continue to fluctuate, causing uncertainty among retailers and consumers.
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