Pakistan's Sugar exports Increases upto 1.359 million tonnes

KARACHI: Sugar exports from Pakistan showed an increasing trend of record hike of 1.359 million tons, due to which country earns $474 million during the first eleven months (July-May) of the financial year 2017-18.

Last year, the sugar exports were about 302,268 tons providing $158 million in the corresponding period of the last FY17.

In last eleven months of FY18, the average per ton price fell to $348 against $524 per ton average price brings in the corresponding period of last financial year.

Sugar from Pakistan is mainly exported to Myanmar, Nepal, Middle East and African countries.

And a sugar miller revealed that 1.5 million tons of sugar had been exported during the outgoing FY18.

Pakistan Sugar Mills Association (PSMA) had not requested any subsidy and required go-ahead for the export of surplus sugar so farmers could be paid, which was refused by the government.

During that period, sugar price in the global market was $550 per ton and as rates decreased to $350 per ton, the government then permitted sugar export with a subsidy of Rs20 per kg, with Rs10.7 per kg federal share and Rs9.30 per kg from Sindh government.

Also, the country’s sugar production recorded a decline of 7 percent during July-April of FY18, touching 6.464 million tons against 6.969 million tons in the same period of FY17.

FY18 proved to be another record season for sugarcane production as it rose 7.4 percent, touching 81.102 million tons compared to last year’s production of 75.482m tons.

The sugarcane crop was grown on an area of 1,313 thousand hectares against previous year’s area of 1,218 thousand hectares, notching a rise of 7.8 percent.