Govt conditionally allows to export 150,000MT sugar
ISLAMABAD – The federal government has conditionally approved the export of 150,000 metric tons of sugar, announced during a Sugar Advisory Board meeting chaired by Federal Minister Rana Tanveer Hussain. The agreement, made with the Pakistan Sugar Mills Association (PSMA), ensures sufficient local stocks and stable prices, with ex-mills sugar prices remaining unchanged. All pending payments to farmers will be prioritized. Future sugar exports will depend on price stability and stock availability. The meeting included key stakeholders and officials.
ISLAMABAD – The federal government has conditionally allowed to export 150,000 metric tons of sugar. A meeting of the Sugar Advisory Board (SAB) was held on Monday which was chaired by Federal Minister for Industries and Production Rana Tanveer Hussain. The agenda of the meeting was to discuss and review the sugar stock availability, current market prices, sugarcane rates, present global market sugar prices, and industry production cost.
The Sugar Advisory Board has conditionally allowed to export 150,000 metric tons of sugar. It was agreed to maintain sufficient local stocks to ensure the smooth supply of the commodity in local markets at sustainable price. In this regard an agreement was reached between the government and Pakistan Sugar Mills Association to ensure smooth supply and stable price of sugar in the local market. The federal minister said that ex-mills sugar price will not be increased under any circumstances while all the pending payments to farmers will be cleared on priority basis by PSMA. He said that the Sugar Advisory Board will again review the sugar prices and market stability in a fortnight. Rana Tanveer said that in future, the export of sugar will depend on price stability and stock availability in the country. The meeting was also attended by Federal Secretary for Industries and Production and other stakeholders including Pakistan Sugar Mills Associations (PSMA), Kissan Itihad and fedral & provincial representatives.
Source Link : https://www.nation.com.pk/11-Jun-2024/govt-conditionally-allows-to-export-150-000mt-sugar
Recommended for you
