Lower prices of pulses, rice and sugar

The country is showing a downward trend in the prices of pulses, rice and sugar due to the fall in the prices of commodities globally and increased supply against demand. The price of pulses per kg in Karachi's local wholesale market Jodiya Bazaar has come down to a minimum of Rs 50 and a maximum of Rs 70. According to Rauf Ibrahim, Chairman of the Wholesale Growers Association, the prices of various pulses in the wholesale market are expected to fall further by Rs 30 to 40 per kg in the next few weeks. Rauf Ibrahim stated that the decline in the prices of pulses in the global market is also having a positive impact on the local wholesale market and overall the prices of pulses may come down to Rs 100 per kg. According to the Chairman Wholesale Growers Association, sugar forward deals are settling at Rs 140, so the wholesale price per kg of sugar is likely to come down from Rs 175 to Rs 150 in the coming weeks. Also read: Electricity likely to be expensive for a month across the country
He said that due to the import of sugar from the Gulf countries and the start of the local cultivation season, sugar will be cheaper by another Rs 25 per kg. According to Rauf Ibrahim, the price of Basmati rice in the wholesale market is also expected to come down by Rs 100 per kg, bringing the price down from Rs 350 to Rs 250. He said the reduction in prices of pulses, rice and sugar will bring significant relief to the consumers.