Pakistan, Asia’s fourth-largest producer of sugarcane, has approved the export of 500,000 tons of sugar from its surplus stock, to be sold by March 31, next year, a government announcement said.
The Economic Coordination Committee, the government’s highest economic decision-making body in its meeting on Dec. 7 approved the sale of sweetener in a phased manner.
In the first phase, 200,000 MT will be allowed to be exported upto 31 December, 2015. By the end of January an accumulative 350,000 will be allowed, while the cut of date for the total accumulative volume of 500,000 MT will be 31 March 2016.
The unutilized quotas for sugar export allowed previously will stand cancelled.
The panel also approved 13 rupees per kg of subsidy as a partial support for “incidentals and freight” for the export of the quantity approved.
ECC also decided that the minimum price for the export of sugar to Afghanistan and the Central Asian States may be fixed at $450 per MT.
Secretary Finance also informed the forum that the current wheat stocks of the country as on December 2015 stand at 7.88 million tons and the total stocks of sugar were 1.36 million tons as on October 28, 2015.
