PSMA expects bumper crop in upcoming season, cites high farmer rates

April 05, 2024 (MLN): The representatives of the Pakistan Sugar Mills Association (PSMA) on Thursday informed that they are expecting a bumper crop of sugar in the next season as high rates have been given to the farmers in the current season.

According to a press release issued on the said day, the Federal Minister for Industries & Production, Rana Tanveer Hussain chaired a meeting of the Sugar Advisory Board (SAB) to review the overall stock position of the sugar in the crushing season 2023-24.

The meeting was attended by high-ranking federal government officials, representatives from provinces, and representatives from the Pakistan Sugar Mills Association (PSMA).

It was shared that the total production of sugar for the current year is 6.752 Metric Ton.

Federal Minister stated that increases in sugar prices directly impact the common man.

The government should first meet the local demand for sugar then we can export surplus sugar Pakistan has the cheapest sugar in the region. The supply of sugar must be ensured.

PSMA suggested that the government should allow the export of surplus stock.

It was agreed that the decision to allow the export of surplus stock will be taken in next meeting after a careful review of available stock, local consumption patterns and subsequent surplus balance.

Copyright Mettis Link News