The Sugar Advisory Board convened on Wednesday and determined that the decision regarding sugar exports will be made after consulting various government departments.
Chaired by Federal Minister of Industry and Production Rana Tanveer Hussain, the meeting emphasized the importance of considering inputs from relevant stakeholders to capitalize on favorable international market conditions.
Attendees included Federal Minister of Commerce Jam Kamal Khan, Secretary National Food Security, representatives from provinces, Pakistan Sugar Mills Association (PSMA), sugarcane farmers, and other federal departments.
The meeting primarily aimed to assess the stock position of sugar during the Kharif season in the country. Provinces presented details indicating a total sugar production of 6.8 million tons this year, with last year’s surplus stock held by sugar mills at 700,000 tons, resulting in a total stock of 7.5 million tons.
With an annual domestic demand of approximately 6 million tons, there exists a surplus of 1.5 million tons. PSMA has advocated for the export of surplus sugar, urging prompt decision-making before international market rates decline, rendering exports economically unviable.
However, Rana Tanveer Hussain underscored the need to ensure uninterrupted sugar supply and price stability until the start of the next crushing season. He emphasized safeguarding the interests of sugar consumers, cane growers, and the sugar industry.
Expressing concerns over potential local market forces driving up sugar prices in Pakistan post-export approval, the minister stated that the final decision would be made following consultations with relevant government departments.
