Federal Minister Rana Tanveer Hussain approves sugar export

The Sugar Advisory Board (SAB), chaired by Federal Minister for Industries and Production Rana Tanveer Hussain, has approved the export of 150,000 metric tonnes of sugar under certain conditions. This decision comes after a thorough discussion on various factors such as sugar stock availability, market prices, sugarcane rates, global sugar prices, and production costs. The aim is to maintain sufficient local sugar stocks to ensure a smooth supply at stable prices.

In a bid to stabilize sugar prices in the local market, an agreement has been reached between the government and the Pakistan Sugar Mills Association (PSMA). The Federal Minister emphasized that ex-mill sugar prices will remain unchanged, and efforts will be made to prioritize pending payments to farmers for clearance by PSMA. The SAB will review sugar prices and market stability in two weeks, with future exports contingent on price stability and local stock availability.

The approval for sugar export and the measures taken to stabilize local sugar prices demonstrate the government's commitment to balancing domestic supply and demand. By ensuring price stability and timely payments to farmers, the authorities aim to create a sustainable and fair sugar market for both producers and consumers.