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Thursday, 20 Jun 2013 4:35 am
High 14 oC - Low 7 oC
SMA wants to export 500,000 tons of sugar to Iran
ISLAMABAD - Sugar Mils’ Association (SMA) has requested the government to allow export of 5 lakh tons of sugar before the onset of next sugar-crushing season.
The letter expounds that Iran wanted to import 100,000 tons of raw sugar, which should be allowed well before the next crushing season, since even raw sugar is possible during the crushing season.
It has also been requested that Trading Corporation should be allowed to stock 500,000 tons to 600,000 tons, in order to facilitate the poor through Utility Stores’ outlets.
It has also been deliberated that increase in production costs of sugarcane, the productive cost of sugar would also increase.
A record 5 million tons of sugar is expected to be produced in the next fiscal year augmenting future sugar stock to 5.4 million tons after adding the leftover 400,000 tons from existing stock; while excluding the annual requirement of 4.2 million tons, this would yield surplus reserve stock of 1.2 million tons.
The SMA has requested that government should regulate its policies according to SMA’s regulations, in order to facilitate sugar mills’ owners to pay sugarcane growers, their dues for the season 2012-13.
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