Now it is time for Traders to Pocket

By M Ali

Islamabad: The traders are going to benefit from sugar import this time. Sugar miller have already pocketed billions through export of sugar and raising prices in domestic market.

Food Ministry has announced to import 0.2 million tons of sugar to offload in market to overcome sugar prices.

So, first millers had pocketed billions by export and even raising prices in the domestic market. Now, the government is betting on the sugar import rather than taking strict action against the sugar miller who had given understanding to the government that they would not increase the prices of sugar.

 Ministry of National Food Security and Research in a statement said a significant development on the government’s decision to import 200,000 tonnes of sugar to stabilize sugar prices and provide relief to the public

Spokesperson said that the final order for sugar import has been placed and the import of sugar has entered the final stage after the opening of the tender, and is being imported by the Chinese government.

“ The first shipment of imported sugar will reach Pakistan in early September 2025,” Spokesperson said adding that the aim of the import is to ensure the availability of sugar in the market and maintain price balance

He added that the relevant committee formed by the government also successfully obtained a discount at the time of purchase in the international market.

“ The arrival of imported sugar will maintain price balance in the local market and directly benefit consumers, spokesperson said.

 Federal Minister for Food Security and Research Rana Tanveer has recently claimed during a press conferrence claimed that sugar is available in abundant quantity and its price is within the reach of the common man.

He ruled out the claims of sugar export first and them import and that the reality is different. “Except for one or two years, he said that sugar has historically been exported in large quantities and then imported to meet demands. The sugar issue emerges seasonally like monsoon frogs,” he remarked.

He explained that the Sugar Advisory Board includes federal ministers, representatives from all four provinces, and relevant stakeholders.

The government allowed sugar export in a phased manner. At the time when the export request was made, the global market price of sugar was $750 per ton. When export was permitted, sugar industry has agreed to set the ex-mill price at Rs140 per kg, with a Rs2 per kg increase from the prevailing rate.

He also claimed that there is a difference of Rs8 to Rs10 per kg between ex-mill and retail prices. After the export, the local price of sugar crashed and dropped to Rs119 per kg.

The government has maintained a buffer stock of 500,000 tons.

Despite an increase in the cultivated area, sugar production fell. “As soon as we learned about the shortfall, the Prime Minister halted the remaining sugar export and 40,000 tons of sugar was not exported,” the minister has said.