- Web Desk
- 5 Hours ago
Sugar prices soar to Rs 140 per kg
- Web Desk
- Dec 12, 2023
KARACHI: The price of sugar in Karachi has reached an unprecedented high of Rs 140 per kilogram in the retail market. This surge in price has occurred in a span of just three days, with the wholesale market also experiencing a significant increase of Rs 12 per kilogram. As a result, a hundred-kilogram sack of sugar now costs a staggering Rs 13,200.
The sudden hike in sugar prices has been attributed to the actions of sugar mills’ owners, who have reportedly cut off the supply of sugar to the market. Moreover, news of the export of sugar has further contributed to the increase in costs. This situation has led to significant hardship for the residents of Karachi, who are already grappling with rising inflation and economic challenges.
The impact of rising prices is not limited to sugar alone. Other essential commodities such as chicken meat have also seen a sharp increase in costs.
In some markets, chicken meat is being sold for Rs 500 or more, while the price of live chicken has risen to Rs 350 or above, despite a government-mandated price of Rs 324. This surge in prices can be attributed to a strike by three major poultry businesses, which resulted in a severe shortage of chicken in cities of Islamabad and Rawalpindi.
The increase in costs of basic necessities has placed a significant burden on the consumers. The country is already facing high inflation, with the rupee depreciating each day against the dollar.