LAHORE  -  The Sugar Mills Association on Saturday has termed the news of a sugar price hike baseless and said that there is no truth in the news about the price hike. According to the association, the government had allowed the export of surplus sugar on the condition that the ex-mill price of sugar remains at Rs.140 per kilogram. Retail prices of sugar in different parts of the country are up to Rs.130. Since the end of the last crushing season 2023-24, sugar has been sold at much less than its production cost. According to the Sugar Mills Association, the price of sugarcane has almost doubled in the last two crushing seasons. The increase in sugarcane price has increased the production cost, the association said and demanded the government take strict action against speculators.