Local consumers are expected to face higher sugar prices once again, as sugar mill owners push for the export of one million tonnes of sugar, causing prices to surge in the domestic market.
Reports indicated that the Sugar Advisory Board may approve the export of surplus sugar.
In the wholesale market, the price of a 50 kg bag of sugar had risen significantly, from Rs300 to Rs7,000. Retail prices have followed suit, with sugar selling for Rs150 to Rs162 per kg.
Even before the potential approval for sugar exports, local prices had been on the rise. Sources reported that the wholesale price of a 50 kg bag has increased from Rs6700 to Rs7000 over the past 10 days. Additionally, according to documents obtained by the media, sugar prices have risen by Rs1.5 per kg in just one week.
These price hikes also affected utility stores, where sugar is now available at Rs155 per kg.
