Islamabad: A meeting of the Sugar Advisory Board was held on Thursday to review the overall situation of sugar stocks across the country. The meeting was chaired by Federal Minister for Industries and Production Rana Tanveer Hussain, and was also attended by Federal Minister for Commerce Jam Kamal Khan, said a news release. The board reviewed the estimates for the sugarcane crop and the overall stock position of sugar for the upcoming crushing season.

According to Press Information Department, the board expressed satisfaction with the current sugar prices in the local market. Rana Tanveer highlighted that there is a trend of declining sugar prices in the local market. It was decided that all sugar mills will begin crushing from November 21, and action will be taken against mills that fail to start crushing by the 21st. The minister confirmed that all payments to farmers will be made before the start of the crushing season. He added that if mills do not pay the dues to farmers, their export licenses will be revoked.

The Pakistan Sugar Mills Association (PSMA) has requested permission to export additional sugar. The minister said that the government cannot grant further permission until the first export quota is completed.