Millers seek to export 1m tonnes of sugar

LAHORE:

Pakistan Sugar Mills Association (PSMA) has stated that at present the country has a surplus sugar stock of 1.25 million tonnes and thanks to the hard work of farmers the sugarcane crop has remained excellent this year, which will result in a significant increase in sugar production.

"A surplus sugar production of 1.5 million tonnes is expected. If the 1.5 million tonnes of sugar stocks from the current and upcoming crushing seasons are combined, a substantial surplus will exist. The government should immediately grant permission for exports," said PSMA Chairman Zaka Ashraf while addressing a press conference on Wednesday. PSMA office-bearers stated that the sugarcane crop had been excellent due to the farmers' hard work and favourable weather conditions, which would lead to an increase in sugar production.

They urged the government to immediately allow export of one million tonnes of sugar to save farmers and the sugar industry from ruin. They called for the immediate issuance of an export order, taking into account the recommendations of the IMF and the prime minister's committee.

The association members emphasised that the export of 200,000 tonnes, recently permitted by the government, was grossly insufficient; therefore, a decision should be made to export one million tonnes to alleviate the country's foreign exchange shortage and protect both the sugar industry and farmers from financial collapse.