KARACHI - The price of sugar in retail market of the city went up by over Rs 2 per kg to Rs48 while it is being sold at over Rs50 per kg in posh areas of the city. According to retailers and wholesalers, the white sweetener price has gone up to Rs46.40/per kg in wholesale market from Rs46.20/per kg; resulting increase of over rupees two to Rs48 per kg in retail market. The ex-mill rate of sugar has reached Rs45.50 per kg in the province which resulted in hike in the prices of this commodity. Fareed Qureshi chairman of Karachi Retail Merchant Association told The Nation that at least Rs100 increase has been witnessed in the price of 100 kg bag of sugar to Rs4600 from Rs4500 in wholesale market. However, the retail price of the commodity has gone up to Rs48 per kg, while it is being sold at over Rs50 per kg in posh areas of the city. According to information gathered from various sources, the retailers are taking over two rupees profit on the sale of per kilogram of sugar, as they were purchasing commodity at Rs46.40/kg from 'Jodia Bazzar which is known as wholesale market, while sale it over Rs48/kg in retail level. Meanwhile, according to shopkeepers, the sugar is being supplied in very limited quantity to wholesalers as well as to retailers by sugar dealers due to very thin supply from mills. The analysts said that the recent hike in sugar price was the result of random announcement of sugar mills body Pakistan Sugar Mills Association, which has informed the government regarding depleting stocks available with them and suggested for importing of sugar to cater anticipated shortage of the commodity in country. The sugar mills body conveyed the information to anticipate the shortage of commodity very late. While after completion of sugarcane crushing season of this year, the mills owners were very optimistic about the sugar stocks available with them, an analysts said. However, the market analysts said that the mills owners and sugar dealers have manoeuvred the situation to increase the price of white sweetener in domestic market. The analysts also attributed the powerful lobby of mills owners in present government behind unprecedented hike in prices of sugar during one year plus period of present PPP led coalition federal government. Whereas, a number of mills owners are also directly sitting on important offices of government in present tenure. It may be noted here that the retail price of sugar was Rs25/kg in March 2008, the very next month the PPP came into power. But, now the white sweetener price touched Rs50 per kg at retail level. Meanwhile, the available statistics of sugar stocks are indicating that country is likely to face the shortage of this commodity in next year as total production of sugar will likely to achieve at over 3m tons in next sugar cane crushing season.