Friday, September 30, 2022

Pakistan sugar mills association demands to unban sugar export

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The Pakistan Sugar Mills Association (PSMA) Sindh zone had demanded the government unban sugar export, warns to delay the crushing season, ARY News reported. 

According to details, the PSMA Sindh zone has said that mills across the country crushed 8 million tonnes of sugar in the last year. The country’s consumption of sugar was 6 million tonnes while the rest 2 million tonnes is stored.

The association has hinted at delaying the crushing season of sugar due to the leftover stock. Sugarcane production in the country increased by 10 % last year, the PSMA said.

The association said that the production improved due to an increase in rainfall in the last year. On July 30, the federal government retained the export ban on sugar despite having a surplus stock of 1.2 million tons.

After lifting the export ban on sugar, the government could formulate a strategy to export the surplus stocks in phases to inject over $1 billion into the national exchequer.

Also Read: Sugar production expected to increase by 15-20 lac tonnes: FBR

It was suggested to the government to allow mills for exporting 500,000 tons of sugar in the first phase.

On August 4, FBR predicted an increase of 15-20 lac tonnes in sugar production in the coming crushing season citing better growth of the sugarcane crop due to monsoon rains.

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