Ministry rules out shortage of sugar in Pakistan
- By Web Desk -
- Aug 31, 2023
ISLAMABAD: The Ministry of Commerce and Industries on Thursday ruled out the shortage of sugar in Pakistan despite plans to import the commodity from Brazil, ARY News reported, citing sources.
The clarification comes after sources claimed that Pakistan is seeking to import sugar from Brazil.
The sources within the ministry said Pakistan has sufficient stock of sugar more than 2 million metric tons, which is sufficient for the country’s use until December.
Sugarcane crushing season in Pakistan will start in November. “Even in November Pakistan will have 1 million metric tons of sugar stock”, the sources quoted.
The sources further say that Pakistan is mulling to import sugar from Brazil to stabilize the price of the commodity in the local market.
The decision to import sugar from Brazil will be only finalized after approval from the ECC.
Read more: TCP to import 100,000 MT of sugar: sources
Earlier on Wednesday, it emerged that the Trading Corporation of Pakistan (TCP) has decided to import 100,000 metric tons of sugar, priced at Rs 220 per kilogram.
It is pertinent to mention here that, in Karachi, there has been a record surge of Rs 18 per kilogram in sugar prices in a single day which pushed the price of sugar at Rs 180 per kilogram.