PSMA Announces Nov 21 Start for Sugarcane Crushing
Pakistan links sugar exports to domestic price stability to prioritize local demand. Cane crushing is set for November 21, with strict measures for non-compliant mills.
Pakistan's Sugar Advisory Board has decided to link the export of surplus sugar to maintaining price stability in the domestic market. This approach aims to fulfill local demand before allowing sugar exports, ensuring stable prices at home.
Recently, the board declined a proposal to export an additional 500,000 tons of sugar, noting that the previously approved export quota of 790,000 tons has yet to be fully utilized. Additionally, the board announced that cane crushing will commence on November 21, with strict action planned against mills that do not start crushing by this date.
Key Points:
- Export Conditional on Price Stability: Surplus sugar exports will only proceed if domestic prices remain stable.
- Cane Crushing Timeline: Scheduled to start on November 21.
- Export Quota Update: The approved 790,000-ton quota remains underutilized.
The Sugar Advisory Board's decisions are essential for balancing local demand with export objectives, ensuring the domestic market’s needs are met first."
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