Millers oppose ban on molasses export
Photo: APP
Sugar millers of Punjab, while anticipating the imposition of restrictions on molasses export, have drawn the attention of Federal Minister of Commerce Gohar Ejaz to the “unlawful” move, which is against free and fair competition in market.
In a letter written to the commerce minister, the members of the Pakistan Sugar Mills Association said molasses is a major byproduct of the sugar industry and its annual production is almost half of the total quantity of sugar produced in the country, said the millers.
Read Sugar sector sees 78% surge in profits in FY23
The export of molasses has been a source of cash generation for the mills for timely payments to sugarcane growers while its local consumption is only 5% of total production and the remaining 95% is directly or indirectly exported, they said.
Published in The Express Tribune, March 3rd, 2024.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.