The federal cabinet has approved the export of 500,000 metric tonnes of sugar, following a circulation summary. This decision comes after the Economic Coordination Committee (ECC) of the Cabinet gave its nod last week to a proposal from the Ministry of Industries and Production, citing sufficient surplus stocks even after accounting for ongoing and proposed exports, the requirements for the remaining two months of the current crushing year, and the need to maintain strategic reserves.
The ECC’s approval was granted under the same terms and conditions as its previous decision on September 20, 2024, with a few modifications. These include:
The Pakistan Sugar Mills Association (PSMA) must provide an undertaking that their mills will begin production by November 21, 2024, for the next crop year. Any mill that fails to comply will have its export quota revoked.
Exporters are required to ensure that consignments are shipped within 90 days of quota allocation by the respective Cane Commissioners.
The Sugar Advisory Board (SAB) reserves the right to revoke this permission at any time to maintain domestic market stability and retail price levels.
Additionally, the ECC has directed the Cabinet Committee on Monitoring Sugar Exports to regularly update the cabinet on the demand, supply, and price situation of sugar in the country, particularly concerning the export of 500,000 metric tonnes. This measure aims to ensure
