Pakistan postpones decision on sugar exports

Pakistan has decided to postpone the decision on sugar exports. This is reported by chinimandi.

The Sugar Advisory Board (SAB), which includes representatives of the federal and provincial governments, as well as the sugar industry, met on Wednesday under the chairmanship of Federal Minister of Industry and Production Rana Tanveer Hussain. The event was also attended by Federal Minister for Commerce Jam Kamal Khan and other stakeholders, including the Pakistan Sugar Manufacturers Association (PSMA), Kisan Ittehad and provincial representatives.

During the meeting, the participants reviewed available sugar stocks, current market prices, sugarcane rates, world sugar prices and industry production costs.

Minister Rana Tanveer Hussain emphasized that the government will make a decision on sugar exports after consultation with all relevant agencies, stressing that protecting domestic consumers is the government’s primary responsibility. He also noted that if sugar exports are allowed, the industry must ensure domestic price stability. The PSMA, in favor of exports, told the meeting that Pakistan currently has about 1.5 million tons of surplus sugar that should be exported. However, the government remains cautious given past instances where PSMA has caused shortages and raised prices, according to an official who attended the meeting.

The official also noted that the PSMA has said it will not be able to pay producers without an export permit. Rana Tanveer Hussain reiterated that rising sugar prices directly affect the population and stressed that local demand for sugar should be met before considering exports to build foreign exchange reserves.

Tags: export, sugar, Pakistan