A move is afoot to make joint efforts by the government and private sector to export sugar to reduce the glut of the commodity in the country.
The purchase of 0.2 million tons sugar from mills by Trading Corporation of Pakistan (TCP) for export has been delayed as the TCP already has 0.2 million tons sugar with it. The fate of this stock is hanging in the balance.
Now, a proposal is under consideration that mills and the government together should make efforts to export the commodity.
This season's total production has touched the figure of 39,68,476 tons, against 36,76,756 tons of last season.
The production in Punjab this year was 25,76,299 tons; NWFP 1,72,844 tons; and Sindh 12,86,333 tons.
The recovery rate in Punjab was 9.09 percent, NWFP 8.51 and in Sindh it was 9.39 percent.
Lately, sugar price in world market has improved a bit. It is $225 dollar per ton FOB.
In the local market, ex-factory price is being quoted at Rs 17.25 per kg. In retail, it ranges between Rs 18 and 20 per kg.
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