Mills seek to export surplus sugar
PHOTO: FILE
The Pakistan Sugar Mills Association (PSMA) has demanded that the government allow export of excess sugar output.
A PSMA spokesperson, in a statement, said that statistics of the Federal Board of Revenue (FBR) for July showed that there would be excessive sugar stock of 1.2 million tons at the start of next crushing season whereas the mills had produced two million tons of surplus sugar at the end of last crushing season.
“Recent spell of widespread rains has left a positive impact on the crop. A 10% increase is expected in the next sugarcane crop,” he said.
Furthermore, it is expected that 1.5-2 million tons of surplus sugar will be produced in the next season. “The government needs to take timely decision regarding export of the excess production,” the statement read.
The spokesperson cautioned that any delay in the government’s decision would directly affect the farmers and the mills, which would not be able to recover their cost of production.
“As a result, there will be negative impact on agriculture, industry and exports. It will also directly affect the country’s economy, resulting in failure to earn foreign exchange.
Published in The Express Tribune, August 5th, 2022.
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