It's no secret that the price of sugar has been on the rise in recent years. In fact, the price of sugar has nearly doubled since 2016, and it doesn't appear to be slowing down any time soon. Utility Stores is one of the largest sugar importers in the world, and as a result, the price of sugar is a major concern for them. They have projected that the price of sugar will continue to rise in 2022, and as a result, they are stockpiling sugar in anticipation of the price increases. This could mean good news for consumers, as sugar prices are likely to remain stable in the short-term. However, it's unclear how long Utility Stores will be able to keep up with the rising demand for sugar, and eventually, prices are likely to start creeping up again. So for now, enjoy the stable prices while you can!
Sugar Price in Utility Stores 2022
Price of sugar in Utility Stores today is Rs. 100 per kg. This price is expected to increase in the coming days due to sugar shortage in the market. The sugar price was Rs. 85 per kg last month.
According to the data released by the Pakistan Bureau of Statistics (PBS), the sugar rate in Utility Stores across the country has witnessed a significant increase in the last few months. In 2022, the sugar price was Rs. 85 per kg whereas in 2022, it increased to Rs. 100 per kg. This rising trend is expected to continue in the coming months as well.
Also Read: Complete Utility Store Price List Today 2022
The main reason behind this rising trend is the soaring prices of sugarcane in the international market.Pakistan is a major producer and exporter of sugarcane, and the country’s sugar industry is highly dependent on the global market price of sugarcane. Due to the Covid-19 pandemic, the global demand for sugar has decreased significantly, leading to a decline in sugarcane prices. However, in recent months, there has been a recovery in the global sugar market, which has led to an increase in sugarcane prices.
This rising trend of sugar price is expected to continue in the coming months as well. However, the government is taking measures to control the prices of essential commodities, including sugar. In 2022, the government decided to release 500,000 metric tons of sugar from its strategic reserves to stabilize the prices in the domestic market. The government is also monitoring the situation closely and has directed Utility Stores Corporation (USC) to take necessary measures to keep the prices under control.
Despite these measures, it is expected that the sugar price will remain high in the coming months due to the surge in sugarcane prices in the international market. However, the government is committed to taking all necessary measures to ensure availability of essential commodities at affordable prices for the people of Pakistan.