Skip to content
Breaking News

Breaking News

  • Home
  • World
  • Business
  • Health
  • Entertainment
  • Life Style
  • Sports
  • Toggle search form

Price hike not caused by exports: PSMA | The Express Tribune

Posted on March 6, 2025 By Admin No Comments on Price hike not caused by exports: PSMA | The Express Tribune


Listen to article


LAHORE:

Pakistan Sugar Mills Association (PSMA) – Punjab Zone has denied that sugar prices have increased due to exports of the sweetener.

In a statement, a spokesman for the association said that some misconceptions had been raised in media by linking the sugar price hike with exports without establishing facts.

Owing to a conservative approach, he explained, the sugar industry was not given export permission timely, which caused liquidity issues for millers. At the end of September 2024, the industry had two years of surplus sugar production in pipeline (approximately 1.5 million metric tons valuing at Rs250 billion), which was pledged with banks at nearly 25% interest rate.

The commodity was kept “notwithstanding the fact that the storage life of sugar is only two years and after that it becomes unfit for human consumption,” he said.

The spokesman pointed out that it was agreed with the government since the time of first export permission that ex-mill sugar prices would not exceed Rs140 per kg during the export period. However, due to huge surplus stocks, the ex-mill prices continuously remained much below the benchmark for many months. “Almost 50% of the total available sugar was sold below the cost of production, causing losses to the industry.”

Since the start of current crushing season, he claimed, it became evident that sucrose content and the overall yield of sugarcane crop had dropped significantly due to pest attacks, inclement weather and the effects of global warming. He said that the rates of sugarcane had risen considerably as growers received Rs650 per maund.



Source link

Business Tags:Latest

Post navigation

Previous Post: Tan France on stepping into acting with a new role in Hulu’s “Deli Boys”
Next Post: Supervised toothbrushing expanded to reach schools in poorest areas

More Related Articles

Figma’s C.E.O. Laments Demise of $20 Billion Deal With Adobe Business
Budget discussions with Pakistan to proceed – SUCH TV Business
PKR continues to recover against US dollar – SUCH TV Business
FM Sitharaman To Attend ADB Meeting In Milan, Hold Bilateral Meetings Business
Federal Financial Watchdog Ordered to Cease Activity Business
Price cut wars: Walgreens follows Target and Walmart, slashing prices on 1,500 items Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • NCAA baseball regionals: Who has the best chances to go to Omaha?
  • Treasury sells final NatWest shares 17 years after bailout
  • Pakistan downed five Indian planes during war, admits BJP leader – SUCH TV
  • Pettiford returning to Auburn after testing draft
  • Healthy Returns: RFK Jr.’s Covid vaccine recommendation change could threaten health, access

Categories

  • Business
  • Entertainment
  • Health
  • Life Style
  • Sports
  • World

Copyright © 2025 Breaking News.

Powered by PressBook Blog WordPress theme