SAB approves conditional export of 150,000 metric tons of sugar

June 11, 2024 (MLN): The Sugar Advisory Board (SAB), in its meeting held yesterday, discussed and reviewed the availability of sugar stocks and conditionally approved the export of 150,000 metric tons of sugar.

The meeting, chaired by Federal Minister for Industries and Production Rana Tanveer Hussain, further reviewed current market prices, sugarcane rates, present global market sugar prices, and industry production costs.

The agenda of the meeting was to discuss and review the sugar stock availability, current market prices, sugarcane rates, present global market sugar prices, and industry production cost.

It was agreed to maintain sufficient local stocks to ensure the smooth supply of the commodity in local markets at a sustainable price.

In this regard, an agreement was reached between the government and the Pakistan Sugar Mills Association to ensure a smooth supply and stable price of Sugar in the local market.

The Federal Minister said that the Ex-mills sugar price will not be increased under any circumstances while all the pending payments to farmers will be cleared on a priority basis by PSMA.

He said that the Sugar Advisory Board will again review the sugar prices and market stability in a fortnight. Rana Tanveer said that in future, the export of sugar will depend on price stability and stock availability in the country.

The meeting was also attended by the Federal Secretary for Industries and Production and other stakeholders including Pakistan Sugar Mills Associations (PSMA), Kissan Itihad and Federal & Provincial representatives.

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