ISLAMABAD – Pakistan Sugar Mills Association (PSMA) urged the federal government to immediately approve export of 600,000 metric tonnes of surplus sugar, warning that continued delays are depriving the country of an estimated $575 million in much-needed foreign exchange.
In a letter addressed to Federal Minister for National Food Security, the association said the sugar industry is burdened with excess stocks and called for swift government intervention. It also requested that permission to export the remaining 550,000 metric tonnes be granted at the start of the upcoming crushing season.
PSMA reminded the government that it had previously committed to allowing the export of surplus sugar, but the assurance has yet to be translated into action. According to the association, total sugar stocks at the end of the current season stood at 7.967 million metric tonnes, leaving a surplus of 1.181 million metric tonnes after meeting domestic consumption requirements.
The association maintained that better payments to sugarcane growers encouraged farmers to cultivate improved cane varieties, paving the way for another strong harvest. It projected sugar production of around 8 million metric tonnes during the next crushing season, indicating that domestic supplies would remain more than sufficient.
PSMA said current sugar prices are way below production costs, making exports crucial for stabilizing the market and easing pressure on millers. It urged the government to issue an immediate notification allowing the export of 600,000 metric tonnes of surplus sugar, arguing that the move would not only support the industry but also generate substantial foreign exchange earnings for the country.
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