KARACHI: The Pakistan Sugar Mills Association (PSMA) has renewed its call for the federal government to permit the export of an extra 600,000 metric tonnes of surplus sugar.
In a formal letter sent to the Federal Minister for National Food Security, the PSMA also requested approval to export an additional 550,000 tonnes at the beginning of the upcoming crushing season.
The association highlighted that by the end of this season, the nation’s sugar stocks totaled approximately 7.967 million metric tonnes. After fulfilling domestic consumption needs, an excess of around 1.181 million tonnes remains, making further exports viable without risking local supply shortages.
The PSMA pointed out that recent improvements in payments to sugarcane farmers have led to the cultivation of higher-quality cane varieties. For the upcoming season, they forecast sugar production to reach approximately 8 million tonnes.
The letter also emphasized that current domestic sugar prices are well below production costs, causing financial strain on industry players. Allowing exports, the association argued, would not only help stabilize the local market but also bring in roughly $575 million in foreign exchange, which is crucial for the country’s economy.
