Govt to Decide on Sugar Exports After Consultation
The Sugar Advisory Board, chaired by Federal Minister Rana Tanveer Hussain, will decide on sugar exports after consulting government departments. Pakistan’s total sugar stock is 7.5 million tons, with 1.5 million tons surplus. The Pakistan Sugar Mills Association (PSMA) urges quick export approval before international rates drop. Hussain emphasized ensuring supply and price stability until the next crushing season. Concerns about local price hikes will be addressed before finalizing the export decision.
The Sugar Advisory Board here on Wednesday decided that the final decision for exporting sugar will be taken after the consultation with various government departments.
The Sugar Advisory Board meeting was chaired by the Federal Minister of Industry and Production Rana Tanveer Hussain noted that the decision in this regard will be taken in the coming days to harness the benefits of the international market situation.
The meeting was attended by the Federal Minister of Commerce Jam Kamal Khan, Secretary National Food Security, and the representatives of provinces, Pakistan Sugar Mills Association (PSMA), sugarcane farmers, and other federal departments.
The agenda of the meeting was to review the stock position of sugar during the Kharif season in the country. The details in this regard were provided by the provinces. The meeting was informed that the total sugar production in the country this year was 6.8 million tons, and last year’s excess stock held by the sugar mills was 700,000 tons, making the total stock position 7.5 million tons in the country.
With an annual domestic demand of around 6 million tons, there was a surplus of 1.5 million tons in the country. The PSMA has demanded that surplus sugar be allowed to be exported, and the decision in this regard has to be taken quickly before the international market rates drop – making the export unfeasible.
However, Rana Tanveer Hussain maintained that an uninterrupted supply of sugar and price stability has to be ensured until the start of the next crushing season. He also stressed the protection of sugar consumers along with the cane growers and the sugar industry.
The minister expressing concern that the local market forces could increase the sugar prices in Pakistan after the permission for sugar export was granted, maintained that the final decision in this regard would be taken after meetings with some relevant government departments.
Source Link : https://propakistani.pk/2024/05/30/govt-to-decide-on-sugar-exports-after-consultation/
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