Pakistan sugar exports to Afghanistan surge by 3473pc
Pakistan’s sugar exports to Afghanistan surged by 3473% in the first half of FY 2024-25, reaching $211.8 million from $5.9 million in 2023. Total exports to Afghanistan rose 52%, hitting $753.8 million. The increase followed Pakistan’s approval to export 500,000 metric tons of sugar, with strict conditions to ensure domestic price stability and supply.
ISLAMABAD: Pakistan’s sugar exports to Afghanistan recorded a whopping increase of 3473% in the first half of FY 2024-25, ARY News reported on Tuesday.
This massive increase has made sugar the largest contributor to Pakistan’s exports to Afghanistan with a record 3473 percent increase from July to December 2024.
According to the official figures, sugar exports reached $211.8 million compared with $5.9 million during the corresponding period in 2023.
Overall Pakistani exports to Afghanistan have also increased by 52 per cent, reaching $753.8 million during the first six months of the current fiscal year, compared with $495.2 during the same period in 2023.
In December 2024, Pakistani exports to Afghanistan raised by 103 per cent Year-Over-Year (YOY) and 36 per cent MoM, with total sales at $175.1, compared to $86 million in December 2023 and $129 million in November 2024.
The federal cabinet’s decision in October 2024 to approve the export of an additional 500,000 metric tons of sugar has played a significant role in this surge.
However, the cabinet had also imposed conditions to ensure price stability and domestic supply, including fixing the retail price of sugar at Rs145.15 per kilogram and monitoring sugar prices to prevent price hikes.
The federal cabinet said that exports would be cancelled immediately if prices exceeded this benchmark.
The Sugar Advisory Board regularly monitors to prevent price hikes and the provincial governments have been directed to do the same.
Additionally, mill owners have been asked to ensure that the ex-mill sugar price does not exceed Rs140 per kilogram.
The State Bank of Pakistan will inform the Economic Coordination Committee about the status of sugar exports on a 15-day basis.
It may be noted here that a total of 750,000 tons of sugar have been allowed to be exported since June 2024, the sources said.
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Source : Ary News
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