ISLAMABAD: Up to 198,387 metric tons of sugar has so far been exported since the Economic Coordination Committee of the Cabinet (ECC) granted permission to export sugar in December last.
Stock of 3.55 million metric tons of sugar is currently available in the country which would be sufficient for the domestic consumption till November 30, 2016.
Therefore, the availability position of sugar stock during holy month of Ramazan and beyond was satisfactory, according to official sources here.
The Economic Coordination Committee of the Cabinet while allowing export of surplus stock of sugar in December 2015 had tasked an inter-ministerial committee on sugar, constituted by the Prime Minister to review sugar stock and export situation every month.
The national average retail price of sugar, as reported in the Sensitive Price Index, was Rs. 62.51 during the week ending on March 17, 2016.
The price of sugar in the domestic market remained stable during last month.
It may be mentioned here that the ECC had accorded approval for export of an estimated 500,000 metric tons of sugar in a phased manner.
The Ministry of National Food Security and Research, as a recommendatory body had suggested the government to lift ban from the export of surplus sugar and let the industry to create place in international market.
It may also be mentioned here that domestic production of sugar this season was estimated at 4.7 million tons besides carry-forward stock of about one million tons from the last year’s production.
Total domestic requirements of the sugar was estimated at 4.2 to 4.3 million tons per annum.
