May 30, 2024 (MLN): Pakistan's total sugar production this year stood at 6.8 million tons, with an additional 0.7m tons of carryover stock from the previous year. While the country's annual refined sugar requirement is 6m tons.
To discuss and review the sugar stock availability, current market prices, sugarcane rates, present global market sugar prices, and industry production cost, a meeting of the Sugar Advisory Board (SAB) was held under the chair of Federal Minister for Industries and Production, Rana Tanveer Hussain.
The meeting was also attended by Federal Minister for Commerce Jam Kamal Khan and other stakeholders including Pakistan Sugar Mills Associations (PSMA), Kissan Itihad, and Provincial representatives.
Sugar mills at present have around 4.5m tons of sugar in stocks.
Rana Tanveer Hussain said that the government would take decision on export of sugar in consultation with all the relevant departments, saying protection of the domestic consumers was the prime responsibility of the government.
He further remarked that in case the relevant departments are allowing sugar export the industry will have to ensure domestic price stability.
During the meeting, the representatives of the PSMA informed the government officials that Pakistan at present has around 1.5m tons of additional sugar, which should be exported.
Federal Minister Rana Tanveer Hussain reiterated that increase in sugar prices directly impact the public at large.
“We should first meet local demand of sugar before considering export option to earn foreign reserves,” he added.
Any decision on export would be taken after through consultation with relevant, the Minister added.
