PSMA requests additional sugar export approval

MG News | November 08, 2024 at 11:16 AM GMT+05:00

0:00

November 08, 2024 (MLN): The Pakistan Sugar Mills Association (PSMA), in a meeting with the Sugar Advisory Board yesterday, requested permission to export additional sugar, which was deferred until the first export quota was completed.

The meeting, chaired by Federal Minister for Industries and Production Rana Tanveer Hussain and Federal Minister for Commerce Jam Kamal Khan, reviewed the overall situation of sugar stocks across the country.

The board reviewed the estimates for the sugarcane crop and the overall stock position of sugar for the upcoming crushing season.

The board expressed satisfaction with the current sugar prices in the local market.

Rana Tanveer highlighted a trend of declining sugar prices in the local market. It was decided that all sugar mills will begin crushing from November 21, and action will be taken against mills that fail to start crushing by the 21st.

The minister confirmed that all payments to farmers will be made before the start of the crushing season. He added that if mills do not pay the dues to farmers, their export licenses will be revoked.

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