Millers seek permit to export surplus sugar
ISLAMABAD: The Pakistan Sugar Mills Association (PSMA) has urged the federal government to immediately permit the export of 585,000 tonnes of sugar. They warn that mills may struggle to buy sugarcane from farmers in the upcoming crushing season unless surplus sugar is exported, saying the country would have over 1.15 million tonnes of excess stock by mid-November. In separate letters sent to…
The Pakistan Sugar Mills Association (PSMA) has requested the federal government to grant permission for the export of 585,000 tonnes of sugar surplus. The PSMA warns that without this export, mills may face difficulties in purchasing sugarcane from farmers during the upcoming crushing season, as the country is projected to have over 1.15 million tonnes of excess stock by mid-November.
The PSMA provided reconciled figures to Deputy Prime Minister Ishaq Dar and Federal Minister for National Food Security and Research Rana Tanveer Hussain, indicating that sugar stocks stood at 3.4 million tonnes as of July 15. With an average monthly consumption of 567,426 tonnes, the country will still have a surplus of 1.158 million tonnes by the start of the crushing season on November 15.
The association also anticipates a bumper sugarcane crop this year, with sugar production expected to surpass eight million tonnes, significantly exceeding domestic consumption needs.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
