Pakistan, July 12 -- The Wholesale Grocers Association has raised alarms over artificial inflation in Pakistan's sugar market, claiming that 2.6 million tonnes of sugar are currently being illegally hoarded. According to Association Chairman Abdul Rauf Ibrahim, if the government initiates a serious crackdown on the sugar mafia, wholesale prices could drop dramatically to Rs150 per kg.

Currently, sugar retail prices have eased slightly-falling from a recent peak of Rs200 per kg to Rs195. Similarly, wholesale prices are now between Rs178 and Rs180, down from Rs185. However, Ibrahim insists these reductions are temporary and the real solution lies in releasing hoarded stock into the market.

"If just half of this illegally stored sugar is p...