Summary Country has at least 11 lac tonne stock of sugar saved from the previous year, states association
LAHORE (Dunya News) – Sugar mills have initiated crushing stage after the authorities have set a price of sugar as demanded by the mills’ owners.
Sugar mills Association’s Chairman Sikandar Khan said that mills in the entire province have entered crushing phase after the Punjab government maintained sugarcane price at Rs 180 per 40 Kilogram (Kg). He said that the country has at least 11 lac tonne stock of sugar saved from the previous year.
Khan further said that 50 lac tonne sugar production is likely this year whereas consumption stands at 43 lac tonne. According to mills’ owners sugar prices are likely to fall owing to stocks and handsome production this year.
On the other hand earlier in November, sugar had hit Rs 65 per Kg in retail in Punjab while Rs 58 per Kg in Sindh within a week. Whole sale dealers had said that stocks upto at least four lac tonne were there in the country then. Shortage in supply of the product is causing increase in price, they added.
Mills’ owners had demanded price of imported sugarcane to be set at Rs 180 per 40Kg in Punjab while Rs 160 in Sindh. The government has now in December met their demands.
