Following an unrelenting month-long spike, Karachi’s sugar prices have finally started to drop, dealing a serious blow to the sugar gang and providing some respite to those affected by inflation.
Market sources claim that in a single day, the cost of a 100 kg sugar sack in the wholesale market decreased by Rs 400. One of the biggest wholesale markets in the city, Jodia Bazaar, is now selling sugar for Rs179 per kg, down from Rs183 per kg the day before.
The Wholesale Sugar Dealers Association’s president, Muhammad Shafqat, attributed the price decline to the return of sugar mill supply and predicted that prices would continue to decline over the next several days.
